What are the characteristics of a cost leadership strategy?
Asked 4 years ago
I was looking at different business strategies when I came across a cost leadership strategy. I don't really understand it. Can someone please explain its characteristics to me? Thanks in advance.
Jolina Regin
Saturday, January 15, 2022
Characteristics of businesses using the cost leadership strategy are:
- Firms target niches with high demand
- The company spends little on advertising, research, and developments
- The company charges the least prices in the industry
- The company has a broad customer base
- Every business process of the company is cost-efficient
Please follow our Community Guidelines
Related Articles
Choosing a Profit Tracker for Wix: Key Features and Beginner's Guide
Brody Hall
January 27, 2022
How to Use Facebook Conversions API for Your Shopify Store
BeProfit Staff
June 13, 2022
Email Marketing Best Practices—How to Improve Your ROI
BeProfit Staff
April 26, 2023
Related Posts
Can't find what you're looking for?