I am doing an assignment about a company called Cash Connections. It is a company that basically purchases your gold and gives you money in return. They also offer services such as western union, bank transfers, etc. www.cashconnections.org
This is the question I have to answer:
What is Cash Connections strategy? Which of the five generic strategies discussed in Chapter 5 most closely fits the competitive approach that Cash Connections is taking?
I have to apply one of these generic strategies:
1- Best Cost Provider Strategy: -Make an upscale product at a low cost.
2- Focused (Niche Market) Strategy. Concentrate on narrow piece of market.
3- Focused (Low-Cost) Strategy. Offering a lower price than competitors.
4- Focused Differentiation Strategy: – Targets upscale buyers who want world class attributes (eg Rolex, Rolls Royce)
I was guessing it would be number one or two.