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English definition of “Porter's generic strategies”

Porter's generic strategies

noun [plural]    
MANAGEMENT, MARKETING the theory, developed by Michael Porter, that a business can get an advantage over other similar businesses in three ways, by cost leadership (= being a low-cost producer), by differentiation (= offering products that are different and that have added value in relation to quality), or by focus (= selling to a part of a market with particular needs)
(Definition of Porter's generic strategies noun from the Cambridge Business English Dictionary © Cambridge University Press)
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