Differentiation or Cost Leadership

The textbook suggests that there argon only two generic strategies available to a firm differentiation or cost leadership. Both strategies can be applied either into a focused market or a broad market. Do you agree that these are the only two strategies available? Are they mutually exclusive? Why or why not? Porters Generic Strategies Target ScopeAdvantageAdvantage Low CostProduct Uniqueness Broad(Industry Wide)Cost leaders StrategyDifferentiation Strategies Narrow (Market Segment)Focus Strategy(low cost)Focus Strategy(differentiation)Generally ,as per the Porters Generic Strategies there are only two strategies are available to the firm i. e. , differentiation and cost leadership. These strategies are the strength of the market which is sovereign of the product and industry. Along with these two strategies the focus strategy is also there which is the combination of low cost and differentiation strategy. The Focus strategy help firms to deliver the goods the unique good quality pr oduct with the low cost that focus on the Narrow Market segments. Advantage with the Focus Strategy is that it helps the both client and organization side.Customers fulfil their needs inwardly their budget and organization also gain its profits but the implementation of the Focus Strategy is very tempestuous which required more studies of the market and about competitors. As per my aspects Focus strategy really helps the organization to able to produce the good quality of product within the customer budgets which also focus on the market demand. Daft, R. L. (2010). Management (9th ed. ). Mason, OH South-Western Cengage Learning. ISBN 13-9780324595840 Ref Porters Generic Strategies