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FIRM STRATEGY
GROUP 2
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FIRM STRATEGY
- refers to the plan or course of action that a
company adopts to achieve its goals and
objectives.

It involves making decisions on how to allocate

resources, compete in the market, differentiate
from competitors, and create value for
customers.

A firm strategy helps guide the company's

actions and choices to achieve sustainable
competitive advantage and long-term success.
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Types of Firm Strategy

1. Cost Leadership Strategy

This strategy focuses on achieving

a competitive advantage by becoming
the lowest-cost producer in the
industry. The company aims to offer
products or services at a lower price
than competitors while maintaining
acceptable quality.
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Types of Firm Strategy

2. Differentiation Strategy
In this strategy, a company aims to
differentiate its products or services from
competitors regarding quality, features,
design, or customer experience. The goal
is to create a unique and valuable offering
that customers are willing to pay a
premium for.
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Types of Firm Strategy

3. Focus Strategy
This strategy involves targeting a specific
market segment or niche and tailoring products
or services to meet the specific needs and
preferences of that segment. By focusing on a
smaller market, companies can achieve a
competitive advantage and better serve the
targeted customers.
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Types of Firm Strategy

4. Growth Strategy
This strategy focuses on expanding
the company's market share, customer
base, or product/service offerings. It may
involve entering new markets, introducing
new products, acquiring other companies,
or forming strategic partnerships.
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Types of Firm Strategy

5. Innovation Strategy
Companies that adopt an innovation
strategy focus on developing new and
improved products, processes, or
business models to stay ahead of the
competition and meet changing customer
needs. Innovation can be a key driver of
competitive advantage and growth.
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Types of Firm Strategy

6. Market Segmentation
Divide your target market into segments
based on demographic, geographic,
psychographic, or behavioral
characteristics. Develop tailored marketing
strategies for each segment to better meet
their specific needs and preferences.
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Types of Firm Strategy

7. Product Differentiation
Differentiate your products or services from
competitors by highlighting unique
features, benefits, or value propositions.
This strategy can help you stand out in the
market and attract customers who are
seeking something different.
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Types of Firm Strategy

8. Strategic Partnership
Form strategic alliances or partnerships
with complementary businesses to
leverage each other's strengths and
resources. Collaborations can help expand
your customer base, enhance product
offerings, or enter new markets.
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Types of Firm Strategy

9. Customer Relationship Management (CRM)

Customer Relationship Management

(CRM): Implement strategies and
technologies to build strong relationships
with customers. Focus on personalized
communication, excellent customer
service, and loyalty programs to foster
customer retention and advocacy.
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Types of Firm Strategy

10. Online Presence & Digital
Marketing

Establish a strong online presence through

a well-designed website, active social
media presence, and targeted digital
marketing campaigns. Leverage digital
channels to reach and engage your target
audience effectively.
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Types of Firm Strategy

11. Employee Training and Development

Invest in training and development

programs to enhance employee skills,
knowledge, and job satisfaction. Well-
trained and motivated employees can
contribute to improved customer
experiences and business performance.
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Types of Firm Strategy

12. Sustainability and Corporate Social
Responsibility (CSR)
Integrate sustainable practices and CSR
initiatives into your business operations.
This strategy can enhance your brand
reputation, attract socially conscious
customers, and contribute to a better
society.
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Types of Firm Strategy

10. Online Presence & Digital
Marketing

Establish a strong online presence through

a well-designed website, active social
media presence, and targeted digital
marketing campaigns. Leverage digital
channels to reach and engage your target
audience effectively.
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Advantages of Firm Strategy

Clear direction and focus for the company

Better resource allocation and decision-making

Competitive advantage and differentiation from

competitors

Improved customer satisfaction and loyalty

Opportunities for growth and expansion

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Disadvantages of Firm Strategy

Inability to Higher costs

Rigidity and
adapt to associated with Risk of imitation
resistance to
unforeseen differentiation or by competitors
change
market changes innovation
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Process in Selecting
Appropriate Firm Strategy
Define your Understand Conduct a Research
business your target SWOT your
goal. market. Analysis competitors.

Continuously Evaluate Consider your

Test and
adapt and potential available
measure.
evolve. strategies. resources.
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THANK YOU!
GROUP 2

Zarah Andrea A. Noynay Reshelle Z. Santiago

Cristine Joy L. Lucero Riza Joy Osorio
Precy Jane Torres Rosary Jim F. Valdez
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QUIZ
Please prepare ¼ size of paper. Thank You!