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What Are the Five Generic Competitive Strategies? Briefly Describe Each

question 54

Essay

What are the five generic competitive strategies? Briefly describe each one and identify the type of competitive advantage that each strategy is aimed at achieving.


Definitions:

Hot Dog

A cooked sausage, traditionally grilled or steamed, served in a sliced bun as a sandwich.

Monthly Income

The total amount of money earned or received by an individual or household within a month from all sources.

Hamburger

A popular food item consisting of a cooked patty, usually of ground beef, placed inside a sliced bread roll or bun, often served with various accompaniments and condiments.

Price

The amount of money that must be paid to obtain a given product or service.

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