In the late 1970s, Prof. Michael Porter began publishing articles on strategy that would have a profound impact on the study of this subject. In his infamous “Five Forces Model”, Porter introduced the generic strategy options for competition: namely the “differentiation” approach and the “cost-leadership” approach. Explain the rationale for Porter’s generic strategy options in the light of the monopolistic competition market structure

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
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Chapter1: Marketing: Creating Customer Value And Engagement
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In the late 1970s, Prof. Michael Porter began publishing articles on strategy that would have a profound

impact on the study of this subject. In his infamous “Five Forces Model”, Porter introduced the generic

strategy options for competition: namely the “differentiation” approach and the “cost-leadership” approach.

Explain the rationale for Porter’s generic strategy options in the light of the monopolistic competition

market structure.

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