Broad Cost Leader Strategy: Strength and Actualization

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Directions:
What strategy will you use and why? What are the strengths of your approach? What immediate things will you need to focus on to actualize this strategy? What will you need to focus on in the longer term?
Source:
12 Six Basic Strategies - 12.1 Broad Cost Leader. 12 Six Basic Strategies - Broad Cost Leader. (n.d.). Retrieved September 6, 2022, from https://ww2(dot)capsim(dot)com/guides/foundation2013/the-guide/12-six-basic-strategies77ba.html
Chosen Strategy:
A Broad Cost Leader strategy maintains a presence in both segments. The company will gain a competitive advantage by keeping R&D, production and material costs to a minimum, enabling the company to compete on the basis of price, which will be below average. Automation levels will be increased to improve margins and to offset second shift/overtime costs.
Mission Statement
Low-priced products for the industry: Our brands offer solid value. Our stakeholders are bondholders, customers, stockholders and management.
Tactics
Research & Development: We will keep our existing product line and introduce at least one new line, maintaining a presence in both segments. We'll work to keep our products up to date in each segment despite high automation levels, without sacrificing our cost/price advantage.
Marketing: Our Company will spend modestly on promoting and selling products in our industry. Our prices will be lower than average. After we establish our cost leadership position, we will revisit our situation to explore options to improve awareness and accessibility.

Production: We will significantly increase automation levels on all products. However, because automation sets limits upon our ability to reposition products with R&D, we automate more in the slower moving Low End segments than in the fast moving High End. We will prefer second shift/overtime to capacity expansions.
Finance: We will finance our investments primarily through long-term bond issues, supplementing with stock offerings on an as needed basis. When our cash position allows, we will establish a dividend policy and begin to retire stock. We are not adverse to leverage, and expect to keep assets/equity between 2.0 and 3.0.