Question
Price and quality are key factors in competitive strategies. Companies can choose to compete on price by offering lower prices than their competitors, often by achieving lower costs of production. Alternatively, they can compete on quality by offering superior products or services, which may justify higher prices. The balance between price and quality can significantly influence a company's position in the market and its overall competitive strategy.
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For instance, other dimensions to measure could be brand identity, distribution channels, quality or technology, level of vertical integration, or specific cost position or services offered. In this case, the y-axis represents price and quality while the x-axis highlights the geographic coverage of competitors, or how many locations they have throughout the world. You then group the players according to where they land and plot them on the map.
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