Salam and hai to all readers :)
For this entry, i would like to write and share about another topic that i have learned last Tuesday. Its all about generic strategies. Ok, for sure i think that some of us already knows what is the generic strategies. But for me, it is new term for me because before this i never know what is exactly meaning of generic strategies. First of all, lets go to the meaning first.
What is generic strategies?? In a simple meaning, generic strategies is the basic approaches to strategic planning that can be adopted by any firm in any market or industry to improve its competitive performance. So, by having this strategies, any industry or company can compete with their competitors outside.
There are four categories in generic business strategies which are broad cost-leadership, focus cost-leadership, broad differentiation and focused differentiation.
An example of industry that i choose is KFC. For me, KFC has use broad differentiation to compete with their rivals. If we are talking about KFC, automatically in our mind will think about chicken right? so, here we can see that KFC is already has their brand name in market. KFC also use the original taste and recipes to be unique.
Also, sometimes KFC always improve freshness and food flavor enhancement . Due to that, KFC is able to offer their customer with something attracting that can attract and maintain their customers to try. So, their customer are getting a better eating experience through great tasting real food, freshness and quality.
Besides that, KFC also have many provide variety of food that we can choose. They are always give us a different taste because to ensure customer flavor and expectations from customers are met. So, customers will not bored with the food that served by KFC and they will come to try it. The price also affordable, therefore the customers are willing to pay for it.
Till we meet again in next entry. ^-^
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