Strategic positioningthe company must identify its, Ask an Expert

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Strategic Positioning

The company must identify its strategic choices. This can be done from the firm’s objectives, which emanates from the firms mission. Strategies have to be developed to achieve a competitive advantage over competitors, which may occur due to cost, price, quality, brand name, image of the product etc. Michael Porter highlighted two fundamental rules to competitive benefit:

• Cost Leadership strategy
• Differentiation

Within each of these strategies a firm may decide to focus.

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Managerial Accounting, Accounting

Category:- Managerial Accounting
Reference No.:- M9516049

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