| 单词 | low-cost strategy |
| 释义 | low-cost strategy low-cost strategy(cost leadership strategy) A generic strategy in which a company aims to gain competitive advantage across the whole of an industry by focusing on price as the key feature distinguishing its product or service from those of its competitors. The strategy was described in 1980 by Michael Porter, who distinguished it from the differentiation strategy and the focus strategy. In order to succeed, the business must drive down its own costs so that it can lower costs to consumers. |
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