The purpose of the General Agreement on Tariffs and Trade (GATT) according to their preamble was to <span>substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis.This was signed by 23 nations in Geneva on October 30, 1947.</span>
J.c. penney attempted the strategy integrated cost leadership . but it couldn't outprice walmart, nor could it compete with macy's and target.
An integrated cost leadership/differentiation strategy basically combines a cost leadership strategy (selling your products or services at a low cost) and a differentiation strategy (offering differentiated products or services). This way, the company offers differentiated products at the lowest possible price.
The company needs integration of its production systems, management and network system, so that it is possible to achieve economies of scale that reduce the cost of production and sales, and search for continuous improvement in all its processes .
Therefore, J.c. penney attempted the strategy integrated cost leadership . but it couldn't outprice walmart, nor could it compete with macy's and target.
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