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What are the characteristics of a cost leadership strategy?

Asked 4 years ago

I was looking at different business strategies when I came across a cost leadership strategy. I don't really understand it. Can someone please explain its characteristics to me? Thanks in advance.

Business strategy Cost leadership strategy

1

Jolina Regin

Saturday, January 15, 2022

Characteristics of businesses using the cost leadership strategy are:
Firms target niches with high demand
The company spends little on advertising, research, and developments
The company charges the least prices in the industry
The company has a broad customer base
Every business process of the company is cost-efficient

2

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