Question

When organizations endeavor (1) to keep their costs (and hence the prices of their products or services) below those of competitors and (2) to target a wide market, they are utilizing a _____ strategy.

Multiple Choice
focused-differentiation
differentiation
cost-leadership
reinventing
cost-focus

Answer 1

Cost-leadership
Step by step explanation

Answer 2

cost-leadership

Step-by-step explanation:

It is exactly the definition of cost-leadrship strategy, When companies increase efficiencies and reduce production costs below their competitors in order to gain market share offering more affordable price.

The cost focus also seeks for a cost advantage, but in focus strategies a narrow market is chosen.