Competitive Strategy – Porter
Recommended by: Nick Pay
Electrifying in its simplicity - like all great breakthroughs - COMPETITIVE STRATEGY captures the complexity of industry competition in five underlying forces. Author Michael Porter introduces one of the most powerful competitive tools yet developed: his three generic strategies - lowest cost, differentiation, and focus - which bring structure to the task of strategic positioning. He shows how competitive advantage can be defined in terms of relative cost and relative prices, thus linking it directly to profitability, and presents a whole new perspective on how profit is created and divided.
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This work by Michael Porter is up there with Kohtler as a marketing bible. Understanding the forces which are playing and controlling the competitive is crucial to any marketer. The book guides the reader through the complexity of the buying process, effect that new entrants will have, shifting technology amongst other thingsWhilst I find it more of a reference than a "read" the concepts encompassed within it should be known and memorized by any good marketeers