In the early 1900s, Henry Ford revolutionized the automobile industry by developing production lines and mass-producing the Ford Model T automobile. By heavily reducing production costs, Ford made the Model T affordable for the average American family. What generic business strategy did Ford use to gain a competitive advantage in the automobile market?
A) a cost-leadership strategy
B) a differentiation strategy
C) a cost focus strategy
D) a differentiation focus strategy
E) a limited production strategy
Correct Answer:
Verified
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