Describe the circumstances under which a firm chooses a low-cost strategy to attain sustainable competitive advantage
Describe the circumstances under which a firm chooses a low-cost strategy to attain sustainable competitive advantage. What about the situations when a differentiation strategy is chosen? Provide specific real world examples.
In 300 words or more, please, provide your response to the above discussion question. You may research the current events websites listed in the recommended resources for ideas of real world examples. Respond substantively to at least two of your classmates’ postings. Substantive responses use theory, research, and experience or examples to support ideas and further the class knowledge on the discussion topic.
A firm or business owners have two different strategic path that they can utilize to attain sustainable competitive advantage. One of the strategies is through low cost strategy. Low cost strategy is where the firm cuts on its cost of production and in return passes the savings to the consumer. This strategy aims at getting more customers and increasing the sales rather that gaining more profit. The company wins the price….
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