Business Level Strategy For A Competitive Advantage Essay

Business level strategy A business level strategy involves searching for a competitive advantage. It also involves doing research on how it positions in the marketplace to gain competitive advantage and various positioning strategies used in the industry setting. Essentially, this approach involves the individuals the company decides to serve in line with their needs and desires. The business level strategy also entails how the company decides to satisfy the needs of the customers. According to Porter Michael, two competitive dimensions are the important keys to the business level strategy. The first dimension is the primary source of a company’s competitive advantage. The aspect involves whether a company is trying to gain an edge on the rivals by keeping the prices down or offering a unique item in the market. The dimension is the scope of the firm’s operations. This aspect entails whether the company tries to target the general customer or it aims at attracting only a segment of the consumers. There are various business level strategies, which emerge from the decisions including differentiation, value innovation, and cost leadership. It is in rare cases that a firm offers to lower the cost of its goods and services and maintain the quality as desired by the customers. It is evident that the companies practicing this strategy are following best price strategy. The competitive strategy of Nordstrom is differentiation through product, continuous improvement, superiorShow MoreRelatedAnalysis Of Michael Porter s Value Chain Essay1740 Words   |  7 Pagesan d four support activities that help the business to gain its competitive advantage. 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