Consider Porter's competitive strategies.Which strategy is most likely to be effective for a business that can avail itself of easy-to-use manufacturing technologies?
A)Cost leadership
B)Differentiation
C)Focused differentiation
D)Internal growth
E)Focused cost leadership

Question

Quizplus · Accepted Answer

Easy-to-use manufacturing technologies typically allow for increased efficiency and lower costs, making cost leadership a viable strategy. This strategy involves reducing costs in all aspects of the business, enabling the company to offer lower prices and attract price-sensitive customers. The use of simple manufacturing technologies can help businesses achieve this goal, as it reduces the need for specialized labor and expensive equipment. As a result, the company can offer its products at a lower price than its competitors while still maintaining profitability.

Consider Porter's Competitive Strategies