When two events occur at the same time, we say that they have ...

[CharlieWard]

When two events occur at the same time, we say that they have ___________________ _ variation.
 Fill in the blank(s) with correct word

Question 2

Describe the classification of strategies according to Porter, and give examples of each.

[6ana001]

Answer to Question 1

concomitant

Answer to Question 2

First is cost leadership, which is producing goods and services more efficiently than the competition. Companies can do this if they have resources like easy access to plentiful, good raw materials, cheaper labor sources, better information, and so on. The strength of these companies is that they are efficient. Examples are Costco and Priceline.

Second is differentiationatte mpting to distinguish our products as different from others in the industry. Differentiation may be fostered through excellent quality in products and customer service, distinctive design, exclusivity, value-added bundled into the core purchase, and so on. The strength of these companies is that they are unique. Examples are Giggle stores and Buddhaful.

Finally, focus is a strategy in which companies do one thing very well. This is a very narrow approach, and these companies often serve niche markets. Examples are EB Games and Nunu Chocolates.

[CharlieWard]

Gracias!

[cam1229]

TYSM