Cost leadership strategies:
· In the car industry: Honda Civic, Toyota Corolla, and the Nissan Sentra are mass-produced and they compete on price.
· In the softwood lumber industry: decking products are mass-produced and compete on price
· Bottled water is another example of mass-produced products that compete on price
· Rolls Royce, Lamborghini, and Maserati are car’s brands that offer unique features. They have the lowest demand but the highest price.
· A dinner plate in Summit’s restaurant in Christiansburg, VA.
· A first class seat in a flight from New York La Guardia to London Heathrow.
· A hybrid car such as Honda Fit, Toyota Prius, or Nissan Leaf. These products focus on a niche market for environmental products.
· Starbucks brews coffee and provides a coffee drinking environment that focus on attracting specialized customers.
· Ike manufactures composite furniture using contemporary designs that focus on young people (high school or college students)