Major Risks of Cost Leadership Strategy Dramatic technological change could take away your cost advantage ? Competitors may learn how to imitate value chain ? Focus on efficiency could cause cost leader to overlook changes in customer preferences ? 31 Differentiation Strategy An integrated set of actions designed by a firm to produce or deliver goods or services (at an acceptable cost) that customers perceive as being different in ways that are important to them – price for product can exceed what the firms target customers are willing to pay – nonstandardized products – cu
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