Which of the Following Best Defines Cost Leadership

question 8

Multiple Choice

Which of the following best defines cost leadership? 

• A) ​It is the positioning strategy of producing a product or service of acceptable quality at consistently lower production costs than competitors can so that a firm can offer the product or service at the lowest price in the industry. 
• B) ​It is the positioning strategy of providing a product or service that is sufficiently different from competitors' offerings that customers are willing to pay a premium price for it. 
• C) ​It is the positioning strategy to produce a specialized product or service for a limited, specially targeted group of customers in a particular geographic region or market segment. 
• D) ​It is the positioning strategy of companies that do not follow a consistent adaptive strategy but instead react to changes in the external environment after they occur.

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Definitions:

Social Level

Refers to the societal or community rank or position of an individual or group, often determined by socio-economic status, occupation, or education.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, which outlines a five-tier model of human needs, from basic physiological needs to self-actualization.

Participation

The act of taking part or being involved in an activity or event.

Self-actualization Level

The highest level on Maslow's hierarchy of needs, representing the realization of one's potential and self-fulfillment.