ECONOMICS

Detailed explanation-1: -The growth in market share is used in calculating the net income effect of: either cost leadership or product differentiation, depending upon the strategy chosen.

Detailed explanation-2: -Cost Leadership-Minimizing the costs incurred in providing value (product or service) to a customer or client. Differentiation-This means making ones product unique or special, compared to other competitors or substitute products in the market.

Detailed explanation-3: -Differentiation Strategy Defined Your differentiation strategy is the way in which you make your firm stand out from otherwise similar competitors in the marketplace. Usually, it involves highlighting a meaningful difference between you and your competitors. And that difference must be valued by your potential clients.

Detailed explanation-4: -Differentiation leadership focuses in providing perks that add value for consumers, while higher prices are a sort of “make up” for their higher costs.