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Differentiation and Low Cost Strategic Integration Route

Author: LinBao
Tutor: LiPinZuo
School: Dongbei University of Finance
Course: Business management
Keywords: Differentiation strategy Low-cost strategy Integration strategy
CLC: F272
Type: Master's thesis
Year: 2011
Downloads: 302
Quote: 1
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Abstract

Competition is the objective product of market economy, also the power source to promote the development of it. In the increasingly fierce competitive environment, enterprises need to develop their own strategies for obtaining and maintaining their competitive advantage with the change of environment, resources and capabilities. At present, what’s well-know and widely used by the theory and the business community is the basic competition strategy that had been proposed by American scientist of strategic management Michael. Porter in the 1980s.Porter believes that there are three available competitive strategies for companies to gain a competitive advantage, that is the overall cost leadership strategy (also called "low-cost strategy"), differentiation strategy and focus strategy. Companies can choose one as dominant strategy from them, and establish its competitive strategy by complementing any a basic competitive strategy. However, the pursuit of low-cost will be at the expense of products’ individuality and differentiation, while the pursuit of differentiation requires higher costs of individuality and differentiation. In other words, low-cost strategy and differentiation strategy is a "dilemma" choice, both have inconsistencies, cannot take into account together, otherwise the strategy will be caught in a dilemma (Porter,1980). However, advances in technology, modern management methods, mass customization and experiential marketing theory make the integration of low-cost and differentiation strategy possible.This is the starting point, combined with specific case to study the internal consistency mechanism of low-cost and differentiation strategy. From the perspective of value chain to explore the specific factors of promoting the integration and analyze their role in low-cost and differentiation. First of all, on the basis of literatures, the paper combs and summarizes the researcher achievements of western and eastern scholars, then the paper makes a briefly comments on the theoretical contributions to the development and the unsolved problems. Next, in the section of research design, the author explains the science of this study from three aspects of research methods, case selection, information collection and consolidation, which does the necessary groundwork for the further studies. Then, in the section of research, the author introduces the integration path of Ikea’s low-cost and differentiation strategy, analyzes the specific integration factors from internal value chain and external value net of enterprises. Besides, this article makes a description of corporate culture, internal management systems and overall business management systems, and then forms a relatively complete study framework. Finally, it is the concluding part, which shows the additional limitations and future research directions for the analysis of the final conclusions.

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