[[Porter's Generic Strategies]] is a framework developed by [[Michael Porter]] aimed at helping businesses identify with one of 'three' generic strategies based on whether their competitive advantage is *cost* or *differentiation*, and whether their target market is *broad* or *narrow*. ^about ![[Porter's Generic Strategies.excalidraw.svg]] If targeting the mass market (broad), businesses should typically lean towards either **cost leadership** (i.e. being the most competitively priced) or **differentiation** (e.g. by offering unique features or being of higher quality). If targeting a niche market (narrow), the same applies, except with the parameters being limited to and unique to that specific niche market, i.e. the most competitively priced in an specialised area, or offering differentiating features that are of high value to specifically that area. The key virtue of the framework is to align the decision-making of businesses into their selected strategy and avoid being stuck in the middle without clear direction or compass by which to make non-deterministic strategic decisions.