A) Pick an actual (not fictional) business that has not already been selected by another student on the discussion board. Do not pick one of the businesses in Chapter 1 of the textbook: Walmart, Neiman Marcus, Payless Shoes, Tiffany & Co. Provide a web link to the webpage or Facebook page for the business you pick, so other students can find out more about it.
For this we will use Air BnB (airbnb.com) B) Briefly describe these four items related to your business: 1) the products/services the business provides to make money; 2) the major competitors for the business 3) the types of customers for the business; 4) the major suppliers for the business.
C) Based upon the description of Porters generic strategies in chapter 1 (cost leadership, differentiation, or focused strategy), pick the one strategy that best fits the way your business differentiates itself from its competitors in order to better serve customers.
If your business strategy is cost leadership, low costs are provided to a broad market. A differentiation strategy often involves unique products /services that can command a higher price. A focused strategy concentrates on serving the needs of the customers in specific niche markets. Justify why you think a particular generic strategy fits your business.