A(n) _______________ strategy is a competitive strategy by which a firm seeks to become a low-cost producer of products and services in the industry.
A) low cost leadership
B) differentiation
C) innovation
D) alliance

Question

Quizplus · Accepted Answer

The given description perfectly matches with the low cost leadership strategy, where a firm aims to produce goods and services at a relatively lower cost than its competitors in the same industry. By adopting this strategy, the company can offer lower-priced products, attract price-sensitive customers, and still maintain profitable margins due to its cost leadership advantage.

A(n) _______________ Strategy Is a Competitive Strategy by Which a Firm