Learning curve strategy
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"Firms that seek a cost advantage should adopt a learning curve strategy; firms that seek to differentiate their products should not."
Comment on both of these statements.
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Solution Summary
Response discusses the learning curve strategy.
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There can be two kinds of strategy to gain competitive advantage:
1) Product differentiation
2) Cost advantage or cost leadership
Cost has been defined by many experts in different terms, though the crux of all of them remains same i.e. the price you pay to get something. It may or may not be quantifiable. As per Sprouce, Robert and Mourice "Cost is an exchange price, a foregoing, a sacrifice made to secure some benefit." The Institute of ...
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