Question: What are the key differences between a 'cost focus' and 'cost leadership' competitive strategy? A 'cost focus' strategy aims to reduce the costs of products

What are the key differences between a 'cost focus' and 'cost leadership' competitive strategy?
A 'cost focus' strategy aims to reduce the costs of products to a narrow part of the market whereas a 'cost leadership' strategy focuses on delivering products with features that are acceptable to customers at the lowest cost and to a large part of the market
A 'cost focus' strategy aims to deliver products to customers that are perceived as having no value whearas a 'cost leadership' strategy focuses on delivering products with features that are unique and highly sought after
A 'cost focus ' strategy aims to deliver products to customers that are perceived as being different in ways that are important to them whereas a 'cost leadership' strategy focuses delivering products with features that are acceptable to customers at the lowest cost, relative to that of competitors
A 'cost focus' strategy aims to to provide many benefits to a narrow section of the market in other words a perceived different experience while a 'cost leadership' strategy aims to reduce the costs of products to a narrow part of the market

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!