Question

Jake Lamps manufactures lamps, lights, shades, and bulbs. Its lighting lasts long and saves power, and it is superior in quality when compared to all its competitors. Its products are being sold at the lowest price in the market. In the context of industry-level strategy, the company is most likely using a(n) _____.

Answer 1

Answer: Cost leadership strategy.

Explanation:

Jake Lamps is making use of cost leadership strategy, where their products are set at lowest cost price in a market where they have competitors present. Cost leadership strategy, is a useful tool in a market which comprises of prize sensitive consumers.