Please proff read this and edit in academic language.
5.2 Generic strategies
Business strategy is the firm's working plan for achieving its vision, prioritizing objectives, competing successfully, and optimizing financial performance with its business model.
Porter's generic strategies can help to make the best choice for your organization. Michael Porter identifies 3 strategies for achieving competitive edge, these are cost leadership strategy, differentiation strategy and focus strategy[1].
Trendhim uses differentiation strategy, in terms of target group, branding, packaging, post-sale services, user convenience and product variety. Their focus is to create a wide variety of accessories and some personal care products for only men, at medium range price. Their products have unique selling proportion (USP) like Italian craftsmanship (the leather belts collection).
The company is differentiated based on target group also, as their products are for the broad target group i.e. man belongs to different age groups and cultures which give them improved understanding of customer needs and expectations in future.
Their website contains various articles about guidance such as how to tie a tie, fold a pocketbook or wear scarves as well as interviews and fashion inspiration stories which makes them different with user convenience and product variety.
Trendhim is also different with its post-sale services by providing exchange and return facilities and with sales and services in local language.
By using this strategy Trendhim aims to provide high-quality products and services while they are trying to be different and unique in the industry. Trendhim designs high quality men's accessories that are both modern and at reasonable prices[2].
[1] Principles of Marketing, page 550-551
[2] https://www.trendhim.dk/articles/209/om-os
Top answer
I'll do a quick proof-read, but it's too long for me to rewrite. If you rewrite it and then repost it, someone may offer you further help. 2 Generic strategies A b usiness strategy is a firm's working plan for achieving its vision, prioritizing objectives, competing successfully, and optimizing financial performance with its business model.
- I'll do a quick proof-read, but it's too long for me to rewrite.
- If you rewrite it and then repost it, someone may offer you further help.
- 2 Generic strategies A b usiness strategy is a firm's working plan for achieving its vision, prioritizing objectives, competing successfully, and optimizing financial performance with its business model.
- Porter's generic strategies can help to make the best choice for your organization.
- Michael Porter identifies 3 strategies for achieving competitive edge .
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I'll do a quick proof-read, but it's too long for me to rewrite.
If you rewrite it and then repost it, someone may offer you further help.
5.2 Generic strategies
A business strategy is a firm's working plan for achieving its vision, prioritizing objectives, competing successfully, and optimizing financial performance with its business model
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