The Federal Budget and how it gets made is a complex and lengthy process that has important implications for Federal and State agencies. Obviously, funding for each agency is….
reply to the students response iin 150 words and provide 1reference
The strategy that I found the most compelling this week is the differentiation strategy. The differentiation strategy is defined as the business strategy that seeks to create a higher value for the customer than the value of the competitors (Rothaermel, 2017). We see this strategy used with most companies, especially big brand companies. After researching the differentiation strategy, I realized how common it is and that I just wasn’t aware of the name of the business strategy. Companies gain a competitive advantage by adding value to the price of a good or service using this business strategy. I recently bought furniture for my home and noticed during my shopping that not all furniture stores include shipping. Jerome’s was one store that I was browsing and they had a special where they offered free shipping with orders over a certain amount versus Living Spaces which is where I actually purchased furniture and also had to pay for shipping. To add value to the shipping cost, Living Spaces offered multiple deliveries at a one-time price. I feel this helped gain a competitive advantage over the others because even though I had to pay for shipping, I could place multiple orders during the time it took to ship my last piece and not have to pay an additional fee.
Rothaermel, F. Strategic Management: Concepts. [National University]. Retrieved from https://nu.vitalsource.com/#/books/1260420256/