Would you apply a product uniqueness or low cost approach for ...

[imanialler]

Would you apply a product uniqueness or low cost approach for competitive advantage? How would you apply the approach?
 
  What will be an ideal response?

Question 2

According to Guerilla Marketing Attack by Jay Levinson, when consumers in the furniture industry rated factors affecting their purchase decision, ________.
 
  A) Price was by far the most important variable
  B) Price was the ninth most important variable
  C) Price was not deemed to be a critical or relevant variable in the purchase decision
  D) Price was the 25th most important variable

[duke02]

Answer to Question 1

Either approach would work depending on the context. A firm using a product uniqueness strategy bases its competitive advantage on its ability to differentiate the firm's products and/or services from others in the competitive marketspace. Cost leadership (or low cost) means that the firm finds ways to reduce the costs of operations and management sufficiently to be able to undercut the pricing of their competition and to sustain that pricing advantage.

Answer to Question 2

B