Porter's Generic Strategies - Simplest explanation with examples
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- Опубліковано 14 лип 2024
- Porter's Generic Strategies for a Competitive Advantage - Simplest explanation ever with relevant examples
Porter's Generic Strategies model is very relevant in terms of business studies, business tutorials, business meetings and just overall in the world of business even in this day and age. This video covers all the perspectives of the approach and makes it easier for people to remember it with the help of relevant examples.
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This simple video is derived from expert input and the presentation style is deliberately kept simple and concise as always.
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This is what basic simple and straight forward explanations means with clear examples.
Thank you 🙏
You are most welcome! Keep supporting! 😊
Thank you sir. Beautifully explained. This video saved so much of time
This video simplified the whole complexity of the generic strategy. Thank you for taking the time to put this video together.
You're most welcome Wendy! I really appreciate your feedback, as it serves as encouragement for me. Do check out some other content while you're here. Take care! 🙂🙂
Very useful. Thanks for the simple explanation.
thanks, you nailed it!! I have an exam in three days amd I feel more prepared, thanks!!
That's great! Hope your exam went well! 🙂
I was sleeping during the class.. thanks my new teacher ..
Placement of Rolls Royce aside (and I can see it has been discussed already) this was a brilliant explanation of Porters Generic Strategies, very helpful indeed, thank you for making this.
agreed, rolls royce should be differentiated focus
@@dexteremrit3130 I’m actually doing a Porter’s generic strategy for a company right now, I’d forgotten about this video.
Your comment just drew my attention to it and I rewatched it again, thanks for that!
Thank you for this! It was simple to understand, especially with the examples
Thank you! I have a test in a few minutes and this really helped
Oh great! Hope you did well in the test
Perfect! Thanks.
Thank you sir, good explanation and easy to understand🥰
(ps: I dont understand what my teacher teaching during her class 😂)
Thank you sir. It is very useful video,very nice explanation.
Thank u for clear explanations. I really understood the theory. 🙏♥
You're most welcome Sandhuni. I hope you liked some other videos too. ☺
Thank you!
Simply terrific
Thanks 😊
Wow! It makes more sense, thank you for this video.
You're most welcome Bella! 🙂
Very useful! Thank you :)
You're welcome Kaushalya! 👍👍
Thank you sir. It was helpful 👏👌
Very helpful. Thanks !!
You're welcome! 🙂
thank You so much for this topic
Well explained Mate ... I could not understand this in the material . You explained well. Would love to have more examples.
Glad to help! 🙂
I'll think about incorporating more examples in future tutorials! 👍
Thank you so much for this useful data! Greatly appreciate..
You're most welcome Tin! :)
Cost leadership vs differentiation is the key to all products
Thanks you🙏🏻😇
Thank you 😇
thank you sir
this was really helpful.
You are welcome Blaise! :)
Thank you for this greate video
You're most welcome! 🙂
thanks was really helpful
ua-cam.com/video/Jyjbwmbdr6A/v-deo.html
this is very helpful. Thank you.
You're most welcome! :)
Great video!! Where would you place 'Netflix' in terms of their overall global strategy? Or Strategy competitive strategy in general?
Excellent explanation
🙂👍
Lovely voice! 😍
😁Thank you!
this is honestly a more convoluted academia field than Keynesian economics. The definitions are bleeding into each other and there's no true distinction between the 2 axes
If x comapny in USA export its product to specific city such as Paris and athina. This consider specific strategy market or not?
Hi Ameer. Sorry for the late reply. Yes, the example you elaborated, illustrates a Differentiation Focus because it's an attempt to create a niche in a specific market. All the best!
Based on the video that tells about Poster's Generic Strategies, there are a lot to learn on how we gain a competitive advantage. It also simply explain the Poster's Generic Strategies wherein these given strategies are useful framework for an organizations to identify a potential opportunity in which they can gain a competitive advantage. It is important to understand the differences that underlie generic strategies because these differences offer considerably different value propositions to customers. We should note that, every strategy is not possible for a single firm. However, I believe that if the firm is capable and executes a strategy sufficiently then it can achieve a competitive advantage in the market.
Hello! Yes, that's correct. Not all strategies would work for all organisation types. 👍
@@MisterSimplify Thank u very much 😊😊😊✌
Can I get a video on applying the theory of change model for strategic planning
Hi Yigerim. I will look into that for you. I have a couple of tutorials on theories of change in the channel. And change management of any type is a part of strategic planning. That's because change is inevitable in business, and managing changes becomes extremely important for sustained development.
Lol Rolls Royce does not fall under cost focus category. In fact, it falls under differentiated focus category
yeah didn't understand why he put rolls royce there either
Haha don’t know why either
... and putting Aldi and Poundland in different quadrants doesn't make sense either.
Hi folks. Your inference is correct. But mine's not completely wrong either. I've responded to a comment above which presents the same critique. Please refer to that comment if you feel like it. It explains my stand in the video in detail. I however do apologise for any confusion arising from this video, and hope that comment clarifies my stand. All the best!
😊👍🏻 he confused me for a sec
why would you consider Aldi to be in a narrow scope? Thanks!
Just because of them having alternate brands in addition to mainstream brands. Many people are stuck to brands and wouldn't consider alternate brands.
Can a company use combination of differentitaion and differentiation focus strategy?
Specifically saying “progressive insurance company”
@@hamnashiham Hi Hamna. Yes they can. The theme here is differentiation really. A progressive / growing insurance company can have a balanced customer based, which is neither too broad nor too narrow. So a balanced can be attained there.
How can we apply these for non profit organizations,
What strategy does The Freecycle Network / Organization uses?
Hi Manjitha. Michael Porter warned non-profit organisations to not compete to be the best, but rather compete to be unique. So the strategy I would propose for the non-profit sector would be Overall Differentiation. This is therefore a task of identifying how your organisation is unique and spreadhing the word about the findings. PR would play a vital role here! Hope this helps! 😊
Isnt it Rolls Royce comes under Diff. Focus, As its unique and targeting limited Segment only(Leaving cost parameter aside)
Please clarify Sir
Thank you
Hi Kushal. Please refer to a comment by 'The News Hound' in the comment section. This question has been raised a couple of times before, and I've provided a detailed explanation in that comment. Referring to that will clarify this point for you. 🙂
@@MisterSimplify thank you sir for replying
I understand narrow market but how does rolls royce focusing on cost….????
What would starbucks be?
Where would you place Barclays ?
Hi Bisma. I would place Barclays in Overall Differentiation as they are specialised and provided added security measures in comparison to many others
Sorry but I disagree with you with regards to SONY. I think they do have differentiation as very strong and highly valuable brand!
I'm really sorry to be critical of your film, but your examples make absolutely no sense. Why are Aldi in the 'Cost Focus' quadrant but Poundland are in the 'Overall Cost' quadrant??? This doesn't make any sense. Likewise the example of Rolls Royce in 'Cost Focus' ?!?!?!?!?!
Hello mate! No I do appreciate constructive criticism. Having knowledge and experience in teaching doesn't mean I don't want to continue learning from you or others. You see, cost focus is having a cost leadership in a focused market. The cost here caters to the focused marketplace. The market for RollsRoyce is focused as they design their cost and segmentation strategies for a specific segment. So they do have cost leadership too. People in their target segment would otherwise go for custom-built cars, which would be all the more expensive than standard RR models. Aldi has a focused market too, because it sells brands which aren't well known. They might be the same quality as other brands. But just the fact that these are unknown brands leads some people to not consider them. Their market is also therefore focused to people who don't care about brand names. One could however argue that this is changing rapidly, as people people are realising that brands like Aldi offer very good value for money overall. So I don't reject your comment at all. Mine's just a different perspective.
Poundland is somewhat different to Aldi because selling all mainstream brands of consumer goods keeps them open to a broader section of the market. And their focus is 'Cost' in the broadest sense of the market.
Now, there can naturally be disagreements in this overall topic here as this is not a perfect theory or model. The application can sometimes vary depending on the perspectives adopted. Your understanding of the concept is also correct, and I hope I've clarified my perspective too. I knew some example choices I used would be controversial. I suppose, I gotta try and clarify my choices better in future videos when I feel there is a need to do so. All the best!
@@MisterSimplify Thank you. the way you clarified about the Rolls Royce example is impressive! and absolutely makes sense to me.
@@ramdhakal3127 Thank you! :)
@@MisterSimplify thanks for using controversial examples and making further explanations here. Oftentimes, we can't learn deeper when widely accepted examples are given. Now, this is more clear with the explanation.
@@alfred0207 I am glad this comment helped. I therefore always try to stay up to date on comments! 😊
you sound drunk