There are two main types of strategies for cost that are in use today: product differentiation and cost leadership. Product differentiation leverages differences in the product to drive unique value to consumers and decrease the focus on costs per unit. Cost leadership, on the other hand, looks to reducing the costs of doing business to a point where the business carries the lowest costs in the industry.
Select one of these two strategies and share an example of how you would use it to decrease your overall costs and increase your revenues if you were CEO for a day.
Please make this 1-2 paragraphs and in APA format.
Please include a reference page and site sources within the paper.
