Michael Porter's Competitive Advantage Of A Business

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Competitive advantage of a business refers to a firm’s ability to earn consistent profits over rival firms in the industry by delivering a service which cannot be matched easily. Much of a firm’s competitive advantage is discussed by Michael Porter in his work on competitive advantage and the forces of competition. Porter has identified commitment to a generic strategy such as cost, differentiation or focus as a means of gaining competitive advantage (Porter et al., 1995). The strategy of low cost involves providing a product at relatively a cheap price by reducing a firm’s cost. The strategy of differentiation entails providing a unique product which can be clearly distinguished from the existing products in the market. The focus strategy is aimed at targeting a select group of customers whose needs are being…show more content…
There are pitfalls and limitations in green marketing but overall as a marketing strategy it has brought about unique elements as strategy evolves in different contexts (Ottman, 1998). 2. What is Green Marketing? As has been defined by many experts it can be concluded that green marketing refers to all marketing activities which are responsive towards protecting the environment. There is much avoidable confusion regarding the term green marketing, as people loosely identify it with various phenomena in the present era. Some attribute it as being responsive towards climate change and global warming, while others believe being in conformity with environmental standards as green marketing. Another group of people perceive recycling as inherent in green marketing while the majority of consumers and marketers alike simply identify green marketing as something that involves of promoting products emphasizing their contribution towards environment (Baker, 1999). Since marketing is seen as a process whereby the marketing mix (Product price, promotions &

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