Firms implementing cost leadership strategies often sell no-frills standardized goods or services to the industry's most typical customers.

Question

Quizplus · Accepted Answer

This is a characteristic of firms implementing cost leadership strategies. They focus on reducing costs and offering standardized products or services to the broadest customer base possible. This allows them to achieve economies of scale and remain competitive by offering lower prices than their competitors.

Firms Implementing Cost Leadership Strategies Often Sell No-Frills Standardized Goods