Answer to Question #185414 in Management for Victor Campbell

Question

As a consultant advising the CEO of Freemen Computer, a new, local computer repair store that also builds custom computers to order, what competitive strategies could Freemen Computer exert? Which ones will it have difficulty exercising? Discuss.

Answer 1

Business strategies are the initiatives that a company can use to deliver the best quality and entice customers. Firstly, the chief executive officer of the company should employ a low-cost strategy. In this strategy, the company will aim to provide services at the lowest cost compared to its competitors. Secondly, the CEO can use a differentiation policy that will ensure that the products supplied by the company are different in quality from their competitors. Also, he can use the best cost strategy where it will strive to produce the best quality in the market but at the lowest cost. Lastly, the CEO should identify a market gap and give a unique product in the market.