Renault Has Found a Way to Generate High Profits on Low-Priced

question 111

Multiple Choice

Renault has found a way to generate high profits on low-priced cards by using simple designs that incorporate components from older car designs and a no-discount retail policy. They are using a(n) ______________ strategy.

• A)differentiation
• B)overall cost leadership
• C)focus
• D)broad differentiation

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Definitions:

Subordinates

Employees or team members who are lower in rank or position and report to a superior.

Porter's Model

A strategic tool developed by Michael Porter used to analyze an industry's structure and competition intensity through five forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products, and competitive rivalry.

Competitive Strategies

Tactics and approaches that businesses adopt to outperform their rivals and achieve superior market position.

Competitive Advantage

The unique attributes or qualities a company possesses that enable it to outperform its competitors, generating greater sales or margins.