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Suppose the Company V company shifts focus to only competing in the Thrift and Nano segments while competing on price by reducing costs and passing the savings to the customers, what strategy would they be implementing? 1) Broad differentiation 2) Niche cost leader 3) Broad cost leader 4) Niche differentiation
Suppose the Company V company shifts focus to only competing in the Thrift and Nano segments while competing on price by reducing costs and passing the savings to the customers, what strategy would they be implementing?
1) Broad differentiation
2) Niche cost leader
3) Broad cost leader
4) Niche differentiation
Expert Solution
The answer is 2).
In this question, the firm is focusing on competition in the Thrift and Nano segments, which are small segments of the market, hence a niche market. In addition, the firm is competing by lowering the cost of the its product that is similar to the existing one, thus the firm is competing through lowering costs. Hence, the strategy is niche cost leader.
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