Firms pursuing a __________ strategy strive to be the lowest cost producer in an industry for a particular level of product quality.
A) cost leadership
B) differentiation
C) specialization
D) growth
E) self-sabotaging

Question

Quizplus · Accepted Answer

A cost leadership strategy is all about achieving the lowest cost of production which allows for higher profit margins or the ability to offer lower prices than competitors. This is done while maintaining a particular level of product quality.

Firms Pursuing a __________ Strategy Strive to Be the Lowest