Question

Jordan's Ice Creams is strategically located near a university. After realizing that most of its customers, who are mostly students, prefer a wide range of flavors, it started offering different combinations of premium flavors, cones, and toppings to create hundreds of extravagant, customized products. Which generic business-level strategy is Jordan pursuing

Answer 1

Answer:

Focused differentiation strategy.

Explanation:

The Five Generic Competitive Strategies  are:

-Low-cost provider. Striving to achieve lower overall costs than rivals and appealing to a broad spectrum of customers, usually by underpricing rivals.

-Broad differentiation . Seeking to differentiate the firm’s product or service from rivals’ in ways that will appeal to a broad spectrum of buyers.

-Focused low-cost . Concentrating on a narrow buyer segment (or market niche) and outcompeting rivals by having lower costs than rivals and thus being able to serve niche members at a lower price.

-Focused differentiation . Concentrating on a narrow buyer segment (or market niche) and outcompeting rivals by offering niche members customized attributes that meet their tastes and requirements better than rivals’ products .

Keyed to offering carefully designed products or services to appeal to the unique preferences and needs of a narrow, well-defined group of buyers (as opposed to a broad differentiation strategy aimed at many buyer groups and market segments).

-Best-cost provider . Giving customers more value for the money by satisfying buyers’ expectations on key quality/features/performance/service attributes while beating their price expectations.