According to Michael Porter, which of the following is a broad market strategy that can enable companies to offer lower prices to customers in the late, more competitive stages of the product life cycle?
A) focused differentiation
B) product differentiation
C) cost leadership
D) cost focus

Question

Quizplus · Accepted Answer

According to Michael Porter, cost leadership is a broad market strategy that can enable companies to offer lower prices to customers in the late, more competitive stages of the product life cycle. This involves achieving the lowest cost of production and distribution in the industry, while maintaining acceptable levels of quality and customer service. This cost advantage can then be passed on to customers in the form of lower prices, helping the company to maintain its market share and competitiveness.

According to Michael Porter, Which of the Following Is a Broad