Challenge Questi 4.1. Ryanair, Wal-Mart, Timex, Casio, of and Hyundai are all cited as examples pr of firms pursuing cost leadership strategies, but these firms make 4. substantial investments in advertis- ca ing, which seems more likely to be es th associated with a product differentia- tion strategy. Are these firms really a pursuing a cost leadership strategy, or CC are they pursuing a product differen- ha tiation strategy by emphasizing their if lower costs? S 4.2. When economies of scale exist, tion firms with large volumes of produc- those