Becoming a low-cost producer of products and services in an industry is an example of a(n):
A) Cost leadership strategy
B) Differentiation strategy
C) Innovation strategy
D) Growth strategy

Question

Quizplus · Accepted Answer

Becoming a low-cost producer of products and services is an example of a cost leadership strategy, where a company focuses on reducing its costs and offering products at a lower price than competitors. This allows the company to attract price-sensitive customers and achieve a competitive advantage.

Becoming a Low-Cost Producer of Products and Services in an Industry