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Home > QFINANCE Dictionary > Definition of generic strategy

Definition of

generic strategy

Marketing

marketing strategy any of three strategies for marketing products or services: cost leadership, differentiation, and focus. The first implies supplying products in a more cost-effective way than competitors; the second refers to adding value to products or services; and the third focuses on a specific product market segment with the goal of establishing a monopoly.

generic strategy - Related Articles
  • Competitive Strategy: Techniques for Analyzing Industries and Competitors

    Finance Library

    Competitive Strategy, a modern classic of business thinking, provides a strong conceptual foundation for developing corporate strategy. It offers a rational and straightforward method for companies to extricate themselves from strategic confusion—and three generic strategies for dealing with competitive forces: differentiation, overall cost leadership, and focus, which for many have become the rules of the game.

  • Michael Eugene Porter

    Thinkers

    Michael Porter is a university professor at Harvard Business School, and an influential thinker on management strategy and economics. His ideas on strategy have become the basis for the required strategy course at the Harvard Business School, and his work is taught in virtually every business school

  • Why Management Development Is a Challenge for Both Business Schools and Client Organizations

    Viewpoints

    that needs resolving. Every expenditure by a company or a public body needs to be justified. There is always at least an ad-hoc cost evaluation of the anticipated benefits against the probable costs. So, training initiatives at a senior level, which cost significantly in terms of time and money, have an inertial weight against them to begin with, and very few organizations are prepared to embrace the idea of generic training for senior management
    By Andrew Kakabadse

  • Sun Tzu

    Thinkers

    It has become popular among political leaders, and those in business management, as well as for military theorists, as it considers strategy in a generic way, which gives it a relevance for public administration and planning. Provides advice on timeless concepts such as information and intelligence

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Definitions of ’generic strategy’ and meaning of ’generic strategy’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’generic strategy’ and other financial terms with our online QFINANCE Financial Dictionary.

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