Many automobile and consumer electronics industries have firms which compete using a strategy of:
A)Professionalism.
B)Growth.
C)Cost Leadership.
D)ABC costing.
E)Target Costing.

Question

Quizplus · Accepted Answer

The most appropriate strategy for industries such as automobile and consumer electronics is Cost Leadership, which focuses on producing goods at the lowest cost possible while maintaining acceptable quality levels. This strategy allows firms to offer lower prices than their competitors, which can attract customers and increase market share. As a result, cost leadership is often used in industries with high competition, which is common in these industries. Professionalism, growth, and ABC costing are not specific strategies used in these industries, while target costing is a complementary approach to cost leadership rather than a standalone strategy.

Many Automobile and Consumer Electronics Industries Have Firms Which Compete