In what situations is a cost leadership strategy better suited? When might a differentiation strategy be better?
What will be an ideal response?
Cost leadership strategy is better when the venture has some efficiencies that allow the product/service to be offered at a lower price. A differentiation strategy focuses on some unique aspect of the product/service (its unique selling proposition) that clearly separates it from competitive products/services presently on the market.
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a. True b. False Indicate whether the statement is true or false