Question

Firms that have a ________ strategy strive to have the lowest costs in the industry, relative to competitors' costs, and typically attract customers on that basis. In contrast, firms using a ________ strategy compete on the basis of providing unique or different products and typically compete on the basis of quality, service, timeliness, or some other important dimension. price reduction, quality plus cost emphasis, quality leadership cost differentiation, quality plus cost leadership, differentiation differentiation, cost leadership

Answer 1

Answer:

The correct answer is letter "D": cost leadership; differentiation.

Explanation:

Cost leadership strategies cause comparative advantages that drive companies to look for the lowest opportunity costs to outstand competitors' performance. The differentiation strategy leads to a differential advantage which makes producers provide a product or service with unique features that rivals find difficult to imitate.