Question

Which of the following can be pursued and achieved through systematic reductions in production and manufacturing​ costs, reductions in sales​ costs, the acceptance of lower profit​ margins, the use of less expensive materials and component​ parts, or other​ means?

a) Differentiation
b) Cost Leadership
c) Focus Strategy
d) Innovation

Answer 1

Cost Leadership is the strategy that can be pursued and achieved through systematic reductions in production and manufacturing costs, reductions in sales costs, the acceptance of lower profit margins, the use of less expensive materials and component parts, or other means.

Step-by-step explanation:

The strategy that can be pursued and achieved through systematic reductions in production and manufacturing costs, reductions in sales costs, the acceptance of lower profit margins, the use of less expensive materials and component parts, or other means is Cost Leadership.

Cost leadership is a business strategy that aims to become the lowest-cost producer in an industry. It involves focusing on cost reduction and efficiency to offer products or services at the lowest possible price in the market.

By implementing cost-saving measures and driving down production costs, a company can achieve a competitive advantage by offering cheaper products than its competitors.