A firm seeking strategic advantage in a broad target market by controlling its costs is pursuing a ___________ strategy.
A) cost leadership
B) differentiation
C) focus cost leadership
D) focus differentiation
E) None of these

Question

Quizplus · Accepted Answer

Cost leadership strategy focuses on achieving competitive advantage by producing products or services at the lowest cost possible. This strategy is effective in a broad target market as it allows the firm to offer lower prices compared to competitors, which can attract price-sensitive customers.

A Firm Seeking Strategic Advantage in a Broad Target Market