4.8 MICHAEL PORTER'S FIVE GENERIC STRATEGIES
The Michael Porter's Five Generic Strategies has a focus on creating strategies that helps to gain competitive advantages from three different bases: Cost leadership, Differentiation and focus.
There are three main streams for the Michael Porter’s Generic Strategies which are:
- Cost leadership
1. Type 1: Low Cost -Strategy
2. Type 2: Best Value-Strategy
3. Type 3: Differentiation
4. Type 4: Focus- Low Cost
5. Type 5: Focus –Best value
The best value focus strategy aims to offer a niche group of customer’s products or services that meets their tastes and requirements better than rivals’ products do. For Refreshing Breeze Express Spa, Type 5 (The best value focus Strategy or focused differentiation) is the most appropriate strategy to be used, as this strategy that offers services such specialized massages to a small range of customers exposed to the exhausting daily rush in Bogota a better lifestyle through relaxation, leisure, comfort and serenity, at the best price-value available on the market.