Hi Sir, I came here because my professor Thomas Debass spoke highly of you. Thank you for simplifying the concept of cost leadership, differentiation and industry average strategies.
Thanks a lot, Professor for making such a complicated topic for a nonbusiness person so easy to understand, loved the examples of differentiation strategy, cost leadership strategy, and industry average. I will never buy or look into Chrysler again :))
Glad it was helpful! Well, my point here wasn't to hate on Chrysler! I'm just trying to find a company that doesn't seem to have the competitive advantages of their competitors. If someone gifted me a Ram truck, I wouldn't say no!
In the last portion of your video, wherein sales of the different auto industry was compared, don't you think that Hyundai is also into product diversification to maximize their profitability, Whereas Merc is not doing. And hence they are more successful.
Great Question. I think product line diversification is different from the kind of differentiation that truly generates willingness to pay (WTP). For example, the reason merc creates wtp is their premium quality and technology that competitors (BMW, Audi) can't easily imitate. For hyundai I think it's far more about producing high quality at the same (generally lower) price levels. These kinds of questions are things we debate for 15 minutes sometimes in class so my last thought is this: There may not be a clear answer without much further discussion!
![Michael Porter's "What is Strategy?" Full Summary [Hipster Edition]](http://i.ytimg.com/vi/VpRNZFuJ_VU/mqdefault.jpg)
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Hi Sir, I came here because my professor Thomas Debass spoke highly of you. Thank you for simplifying the concept of cost leadership, differentiation and industry average strategies.
Thomas is an absolute treasure!
He is!@@dhalliday
Epic sandwich dance - a strategic advantage over other business professors!
you explained the concepts in an easy way, thank you sir
love your explanation, keep up the good work!
Thanks, will do!
Concise and easy to understand explanation on G&R's "Creating Competitive Advantage"
Another winning short lecture from Dr. Halliday!
Great video professor. Simplified and makes understanding the concepts easy. Also, thank you for adding some comedy along the way as well.
Glad you liked it!
Excellent summary of Ghemawat & Rivkin's article "Creating Competitive Advantage" !!
This was amazing. Thank you for the clear information.
Thank you very much.... I wish you taught our class!
It's my pleasure. I'm just glad this helped your understanding!
So thankful for all the work you put into creating such amazing educational videos. Your channel helps me a lot with my classes at university!
🥰
Excellent overview of the various sources of firm profits!
Very easy explanation for difficult concepts
Thanks, Tarek! Great to have you in class this semester.
Educational, enjoyable, and good examples.
Thanks a lot, Professor for making such a complicated topic for a nonbusiness person so easy to understand, loved the examples of differentiation strategy, cost leadership strategy, and industry average. I will never buy or look into Chrysler again :))
Glad it was helpful! Well, my point here wasn't to hate on Chrysler! I'm just trying to find a company that doesn't seem to have the competitive advantages of their competitors. If someone gifted me a Ram truck, I wouldn't say no!
I will definitely mention the sandwich dance in my next paper
My work here is complete.
In the last portion of your video, wherein sales of the different auto industry was compared, don't you think that Hyundai is also into product diversification to maximize their profitability, Whereas Merc is not doing. And hence they are more successful.
Great Question. I think product line diversification is different from the kind of differentiation that truly generates willingness to pay (WTP). For example, the reason merc creates wtp is their premium quality and technology that competitors (BMW, Audi) can't easily imitate. For hyundai I think it's far more about producing high quality at the same (generally lower) price levels. These kinds of questions are things we debate for 15 minutes sometimes in class so my last thought is this: There may not be a clear answer without much further discussion!
1. Are M/Benz, Hyundai & Chrysler examples of Differentiation, Cost Leadership & Industry Average respectively?
2. Lizard, I am your father!
#1: exactly