Broad Differentiation, Mergers and Acquisitions Essay

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Broad Differentiation, Mergers, and Acquisitions: Outperform the Competition Timothy Creed Cannon Belhaven University Abstract Throughout the text, Essentials of Strategic Management: The Quest for Competitive Advantage, the authors discuss many different strategies which organizations can implement in an effort to outperform rivals within their respective markets. Assuming that the organization does not maintain a monopoly on the product or service that they are providing, something that is very rare in the field of modern business, implies that these strategies are essential if the company is to survive the cutthroat nature of the business atmosphere. The following text will aim to compare and contrast the broad differentiation strategy with the merger and acquisition strategy using a SWOT analysis as the basis for discussion. Broad Differentiation One of the strategies discussed in Chapter 5 that companies can use to gain a competitive advantage is the “Broad Differentiation Strategy.” As defined by the text, the broad differentiation strategy is used by managers and administrators who are “seeking to differentiate the company’s product or service from rivals’ in ways that will appeal to a broad spectrum of buyers” (Gamble, Thompson & Peteraf, 2013). In other words, companies who implement this strategy aim to provide consumers with a product that is unique, in that it provides consumers with features that are so desirable that they will remain loyal to that brand. The key to successfully implementing broad differentiation begins by performing an in depth consumer evaluation to pin point the different elements and attributes that will attract attention from the public. This element of broad differentiation is perhaps the most important piece and will likely determine

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