Firms pursuing a low-cost leadership strategy can ignore other competitive factors such as product quality and customer service to focus completely on price.

Question

Quizplus · Accepted Answer

While firms pursuing a low-cost leadership strategy aim to offer products at a lower price than their competitors, they cannot completely ignore other factors such as product quality and customer service. Ignoring these factors can result in a lack of differentiation and ultimately harm the firm's competitiveness in the long run. Therefore, a balanced approach that prioritizes cost efficiency while ensuring quality and service is necessary for success.

Firms Pursuing a Low-Cost Leadership Strategy Can Ignore Other Competitive