• 2022-06-03
    ______ is the strategy used by businesses to create a low cost of operation within their industry. The use of this strategy is primarily to gain an advantage over competitors by reducing operation costs below that of others in the same industry.
    A: Cost leadership
    B: Cost focus
    C: Differentiation
    D: Differentiation focus
  • A

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    • 0

      When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment, it is employing a ________ strategy. A: defined B: focus C: value-added D: competitive advantage E: customer-focused

    • 1

      A company that competes by offering unique products that are widely valued by customers is following a ________. A: leadership strategy B: differentiation strategy C: focus strategy D: functional strategy

    • 2

      A cost leadership strategy requires a firm to ________. A: match its competition in terms of costs B: aim at a cost advantage in a niche market C: maintain the lowest cost structure D: be unique in its product offering

    • 3

      Business strategies include overall cost leadership, differentiation, and combination.

    • 4

      Cost leadership as a strategy requires a firm to____________. A: aggressively seach out efficiencies to maintain the lowest cost structure B: be unique in its product offering C: aim at a cost advantage in a niche market D: aim to be similar to its competition in most operations