Scenario: The SWOT analysis compares internal strengths and weaknesses with external opportunities and threats so that management identifies areas of concern and opportunity both internally and externally to help the firm become more successful. As a result of this analysis, strategies to address and resolve strategic issues can be developed and implemented.

One of the $4$ possible generic competitive strategies defined by Michael Porter is cost leadership. Cost leadership can be an effective approach where the company offers low prices on its goods or services, as long as it still provides acceptable quality and is able to attract enough customers for the product to be financially viable.

Task: Identify any industries where it could be difficult to implement a cost leadership strategy. Please explain the reasons for your choice.