Which of the following is essential if an organization has to follow a low-cost leadership strategy?
A)market leadership on product quality
B)relentless search for ways to reduce operating expenses
C)product differentiation to distinguish itself from competitors
D)focus on a segment or sector of the market

Question

Quizplus · Accepted Answer

A low-cost leadership strategy aims to provide products/services at a lower cost than competitors. To achieve this, an organization must relentlessly search for ways to reduce operating expenses. Market leadership on product quality (A) and product differentiation (C) are not the primary focus of a low-cost leadership strategy. Focusing on a segment or sector of the market (D) may be a part of a low-cost leadership strategy, but it is not essential.

Which of the Following Is Essential If an Organization Has