Give industrial examples for cost leadership, differentiation, and cost focus strategies in India.
Question
Give industrial examples for cost leadership, differentiation, and cost focus strategies in India.
Solution
Sure, here are some examples of companies in India that use cost leadership, differentiation, and cost focus strategies:
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Cost Leadership: Reliance Jio is a prime example of a company that uses a cost leadership strategy. When they entered the market, they offered free voice calls and very cheap data plans, which was significantly cheaper than what other telecom companies were offering. This allowed them to quickly gain a large market share.
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Differentiation: Apple Inc. is a global example of a differentiation strategy. In India, they differentiate themselves by offering high-quality, innovative products with a strong brand image. Their products are priced higher than most of their competitors, but customers are willing to pay more for the perceived value and quality of Apple products.
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Cost Focus: Patanjali Ayurved is an example of a company that uses a cost focus strategy. They offer a wide range of products, from food items to cosmetics, at a lower price than their competitors. They are able to do this by keeping their overhead costs low and focusing on efficient production methods.
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