Victoria’s Secret decided to close their stores in March due…

Victoria’s Secret decided to close their stores in March due to the global pandemic and reopen in June; however, not all of their stores had the opportunity to reopen. Instead of completely filing for bankruptcy and going out of business, Victoria’s Secret decided to decrease its number of stores and lay off a fraction of their employees. This strategy can be referred to as __________.

You have the idea to open a lower cost, more affordable groc…

You have the idea to open a lower cost, more affordable grocery store in a new neighborhood. Although the neighborhood is new, there will likely soon be more permanent residents in the area who will need a place to shop. About 3 miles away there is another grocery store that is somewhat established and already has customer/brand loyalty. Which disadvantage to operating with a low-cost strategy would best fit the scenario?

Suppose you own a clothing store that wants to employ a cost…

Suppose you own a clothing store that wants to employ a cost leadership strategy. You are considering switching to cheaper materials, reducing your advertising costs, laying off customer service employees, using cheaper designs, and changing store hours. Which of the following should NOT be part of your cost leadership strategy?