There are several basic approaches to competing successfully and gaining a competitive advantage over rivals, such as:
answer
delivering more value to its customers than rivals or delivering value more efficiently than rivals (or both).
question
A company's competitive strategy deals with:
answer
the specifics of management's game plan for competing successfully—its specific efforts to please customers, strengthen its market position, counter the maneuvers of rivals, respond to shifting market conditions, and achieve a particular kind of competitive advantage.
question
While there are many routes to competitive advantage, the two biggest factors that distinguish one competitive strategy from another involves:
answer
whether a company's target market is broad or narrow and whether the company is pursuing a competitive advantage linked to low costs or differentiation.
question
Whatever strategic approach is adopted by a company to deliver value, it nearly always:
answer
requires performing value chain activities differently than rivals and building competitively valuable resources and capabilities that rivals cannot readily match or trump.
question
The biggest and most important differences among the competitive strategies of different companies boil down to:
answer
whether a company's market target is broad or narrow and whether the company is pursuing a competitive advantage linked to low cost or differentiation.
question
Which of the following is NOT one of the five generic types of competitive strategy?
answer
A market share dominator strategy
question
The generic types of competitive strategies include:
Which one of the following generic types of competitive strategy is typically the "best" strategy for a company to employ?
answer
One that is customized to fit the macro-environment, industry and competitive conditions, and the company's own resources and competitive capabilities
question
A low-cost leader's basis for competitive advantage is:
answer
meaningfully lower overall costs than rivals on comparable products.
question
Low-cost leaders, who have the lowest industry costs, are exceptionally good at finding ways to drive costs out of their businesses and still provide a product or service that buyers find acceptable:
answer
positioned to deliver affordable luxury products at mass market quality.
question
How valuable a low-cost leader's cost advantage is depends on:
answer
whether it is easy or inexpensive for rivals to copy the low-cost leader's methods or otherwise match its low costs.
question
A low-cost leader translates its low-cost advantage over rivals into superior profit performance by:
answer
either using its lower-cost edge to under-price competitors and attract price-sensitive buyers in great enough numbers to increase total profits or maintain the present price, and using the lower-cost edge to earn a higher profit margin on each unit sold, thereby raising total profits and overall return on investment.
question
The major avenues for achieving a cost advantage over rivals include:
answer
performing value chain activities more cost-effectively than rivals or revamping the firm's overall value chain to eliminate or bypass some cost-producing activities.
question
To succeed with a low-cost provider strategy, company managers have to:
answer
do two things: (1) perform value chain activities more cost-effectively than rivals, and (2) act proactively in revamping the firm's overall value chain to eliminate or bypass "nonessential" cost-producing activities.
question
Achieving a cost advantage over rivals entails:
answer
performing value chain activities more cost-effectively than rivals and finding ways to eliminate or bypass some cost-producing activities altogether.
question
A factor that has a strong influence on a company's costs is termed:
answer
a cost driver.
question
Which of the following is NOT an action that a company can take to do a better job than rivals of performing value chain activities more cost-effectively?
answer
Eliminate product features that might have market appeal, but excessively increase production costs
question
Cost-efficient management of a company's overall value chain activities requires that management:
answer
ferret out cost-saving opportunities in every part of the value chain.
question
Which of the following is NOT one of the ways that a company can achieve cost-efficient management of its value chain activities?
answer
Striving to ensure a corporate diversity policy is introduced with effective controls
question
The culture of a company can be a cost-efficient value chain activity because it can:
answer
allow for safeguarding internalized operating benefits.
question
Which of the following is NOT one of the ways that a company can achieve a cost advantage by revamping its value chain?
answer
Increasing production capacity and then striving hard to operate at full capacity
question
An example of how companies can revamp their value chain to reduce costs is:
answer
to increase service availability while reducing staffing requirements.
question
Success in achieving a low-cost edge over rivals comes from:
answer
out-managing rivals in finding ways to perform value chain activities faster, more accurately, and more cost efficiently.
question
While low-cost providers are champions of frugality, they:
answer
seldom hesitate to spend aggressively on resources and capabilities that promise to drive costs out of the business.
question
A competitive strategy of striving to be the low-cost provider is particularly attractive when:
answer
most buyers use the product in much the same ways, with user requirements calling for a standardized product.
question
Being the overall low-cost provider in an industry has the attractive advantage of:
answer
putting a firm in the best position to win the business of price-sensitive customers, set the floor on market price, and still earn a profit.
question
A competitive strategy to be the low-cost provider in an industry works well when:
answer
industry newcomers use introductory low prices to attract buyers and build a customer base.
question
A competitive strategy predicated on low-cost leadership tends to work best when:
answer
price competition among rivals is especially vigorous and the offerings of rival firms are essentially identical, standardized, commodity-like products.
question
In which of the following circumstances is a strategy to be the industry's overall low-cost provider NOT particularly well-matched to the market situation?
answer
When buyers have widely varying needs and special requirements, and the prices of substitute products are relatively high.
question
A strategy to be the industry's overall low-cost provider tends to be more appealing than a differentiation or best-cost or focus/market niche strategy when:
answer
the offerings of rival firms are essentially identical, standardized, commodity-like products.
question
Which of the following is NOT one of the pitfalls of a low-cost provider strategy?
answer
Setting the industry's price ceiling to capture volume gains and achieve economies of scale
question
A low-cost provider's product does NOT have to always:
answer
suggest that a low price, by itself, is not always that appealing to buyers.
question
The essence of a broad differentiation strategy is to:
answer
offer unique product attributes in ways that are valuable and appealing and that buyers consider worth paying for.
question
A company attempting to be successful with a broad differentiation strategy has to:
answer
study buyer needs and behavior carefully to learn what buyers consider important, what they think has value, and what they are willing to pay for.
question
Successful differentiation allows a firm to:
answer
command a premium price for its product, and/or increase unit sales, and/or gain buyer loyalty to its brand.
question
A broad differentiation strategy improves profitability when:
answer
the higher price the product commands exceeds the added costs of achieving the differentiation.
question
Opportunities to differentiate a company's product offering:
answer
can exist in activities all along an industry's value chain.
question
Uniqueness drivers are a:
answer
set of factors (analogous to cost drivers) that are particularly effective in having a strong differentiation effect.
question
Which of the following is NOT one of the ways managers can enhance differentiation based on uniqueness drivers?
answer
Seeking out low-quality inputs
question
Brands create customer loyalty, which in turn:
answer
increases the perceived cost of switching to another product.
question
Pursuing continuous quality improvement as a uniqueness factor is sound because:
answer
it can often reduce product defects, improve economy of use, and result in more end-user convenience.
question
Approaches to enhancing differentiation through changes in the value chain include:
answer
All of these.
question
The objective of differentiation:
answer
is to offer customers something rivals can't, at least in terms of the level of satisfaction.
question
A route to take in developing a differentiation advantage includes:
answer
incorporating tangible features that add functionality, increase customer satisfaction with the product specifications, functions, and styling.
question
Easy-to-copy differentiating features:
answer
cannot produce sustainable competitive advantage.
question
Which of the following is NOT one of the four basic routes to achieving a differentiation-based competitive advantage?
answer
Appealing to buyers who are sophisticated and shop hard for the best, stand-out differentiating attributes
question
Perceived value and signaling value are often an important part of a successful differentiation strategy because:
answer
buyers seldom will pay for value they don't perceive, no matter how real the value of the differentiating extras may be.
question
Broad differentiation strategies are well-suited for market circumstances where:
answer
there are many ways to differentiate the product or service that have value to buyers.
question
Broad differentiation strategies generally work best in market circumstances where:
answer
buyer needs and uses of the product are diverse and they are not fully satisfied by a standardized product.
question
A broad differentiation strategy works best in situations where:
answer
technological change is fast-paced and competition revolves around rapidly evolving product features.
question
A broad differentiation strategy generally produces the best results in situations where:
answer
few rival firms are following a similar differentiation approach.
question
In which one of the following market circumstances is a broad differentiation strategy generally NOT well-suited?
answer
When the products of rivals are weakly differentiated and most competitors are resorting to clever advertising to try to set their product offerings apart
question
Which of the following is NOT one of the pitfalls of pursuing a differentiation strategy?
answer
Over-emphasizing efforts to strongly differentiate the company's product from those of rivals rather than be content with weak product differentiation
question
Focused strategies keyed either to low-cost or differentiation are especially appropriate for situations where:
answer
the market is composed of distinctly different buyer groups who have different needs or use the product in different ways.
question
What sets focused (or market niche) strategies apart from low-cost leadership and broad differentiation strategies is:
answer
their concentrated attention on serving the needs of buyers in a narrow piece of the overall market.
question
A focused low-cost strategy seeks to achieve competitive advantage by:
answer
serving buyers in a narrow piece of the total market (target market niche) at a lower cost and lower price than rivals.
question
The chief difference between a low-cost provider strategy and a focused low-cost strategy is:
answer
the size of the buyer group that a company is trying to appeal to.
question
A focused low-cost strategy can lead to attractive competitive advantage when:
answer
a firm can lower costs significantly by limiting its customer base to a well-defined buyer segment.
question
A focused differentiation strategy aims at securing competitive advantage:
answer
with a product offering carefully designed to appeal to the unique preferences and needs of a narrow, well-defined group of buyers.
question
A focused strategy aimed at securing a competitive edge and which is based either on low cost or differentiation becomes more attractive when:
answer
the target market niche is small enough to limit profitability and the outlook is ripe for differentiating.
question
The risks of a focused strategy based on either low-cost or differentiation include:
answer
the potential for the preferences and needs of niche members to shift over time toward product attributes desired by buyers in the mainstream portion of the market.
question
Best-cost provider strategies are:
answer
a hybrid of low-cost provider and differentiation strategies that aim at providing desired quality/features/performance/service attributes while beating rivals on price.
question
To profitably employ a best-cost provider strategy, a company must have the resources and capabilities to:
answer
incorporate attractive or upscale attributes into its product offering at a lower cost than rivals.
question
A firm pursuing a best-cost provider strategy:
answer
seeks to deliver superior value to buyers by satisfying their expectations on key quality/service/features/performance attributes and beating their expectations on price (given what rivals are charging for much the same attributes).
question
The objective of a best-cost provider strategy is to:
answer
deliver superior value to value-conscious buyers at a comparatively lower price than rivals
question
The competitive objective of a best-cost provider strategy is to:
answer
meet or exceed buyer expectations on key quality/performance/features/service attributes and beat their expectations on price (given what rivals are charging for much the same attributes).
question
What is the primary target market for a best cost-provider?
answer
Value-conscious buyers
question
The competitive advantage of a best-cost provider is:
answer
its capability to incorporate upscale or attractive attributes into its product offering at lower costs than rivals.
question
For a best-cost provider strategy to be successful, a company must have:
answer
resource strengths and competitive capabilities that allow it to incorporate upscale attributes at lower costs than rivals whose products have similar upscale attributes.
question
The target market of a best-cost provider is:
answer
value-conscious buyers.
question
Best-cost provider strategies are appealing in those market situations where:
answer
diverse buyer preferences make product differentiation the norm and where a large number of value-conscious buyers can be induced to purchase mid-range products.
question
The big danger or risk of a best-cost provider strategy is:
answer
that rivals, with low-cost provider strategies will be able to steal away some customers on the basis of a lower price, and high-end differentiators will be able to steal away customers with the appeal of better product attributes.
question
A company's biggest vulnerability in employing a best-cost provider strategy is:
answer
getting squeezed between the strategies of firms employing low-cost provider strategies and high-end differentiation strategies.
question
Success with a best-cost provider strategy designed to outcompete high-end differentiators requires:
answer
achieving significantly lower costs in providing the upscale features
question
Each of the five generic strategies positions the company differently, except when it concerns:
answer
creating differentiation barriers within economies of scope.
question
The production emphasis of a company pursuing a broad differentiation strategy usually involves:
answer
emphasis on building differentiating features that buyers are willing to pay for and includes wide selection and many product variations.
question
The marketing emphasis of a company pursuing a broad differentiation strategy usually is to:
answer
tout differentiating features and charge a premium price that more than covers the extra costs of differentiating features.
question
The keys to maintaining a broad differentiation strategy are:
answer
to stress constant innovation to stay ahead of imitative rivals and to concentrate on a few differentiating features.
question
The marketing emphasis of a company pursuing a focused low-cost provider strategy usually is to:
answer
communicate the attractive features of a budget-priced product offering that fits niche members' expectations.
question
The underlying criteria of a best-cost provider strategy usually is found in the ability of a company to:
answer
offer similar goods at more attractive prices.
question
At the heart of a production-based emphasis toward a low-cost provider strategy usually requires a company to:
answer
strive for continuous cost reductions without sacrificing acceptable quality and essential features.
There are several basic approaches to competing successfully and gaining a competitive advantage over rivals, such as:
answer
delivering more value to its customers than rivals or delivering value more efficiently than rivals (or both).
question
A company's competitive strategy deals with:
answer
the specifics of management's game plan for competing successfully—its specific efforts to please customers, strengthen its market position, counter the maneuvers of rivals, respond to shifting market conditions, and achieve a particular kind of competitive advantage.
question
While there are many routes to competitive advantage, the two biggest factors that distinguish one competitive strategy from another involves:
answer
whether a company's target market is broad or narrow and whether the company is pursuing a competitive advantage linked to low costs or differentiation.
question
Whatever strategic approach is adopted by a company to deliver value, it nearly always:
answer
requires performing value chain activities differently than rivals and building competitively valuable resources and capabilities that rivals cannot readily match or trump.
question
The biggest and most important differences among the competitive strategies of different companies boil down to:
answer
whether a company's market target is broad or narrow and whether the company is pursuing a competitive advantage linked to low cost or differentiation.
question
Which of the following is NOT one of the five generic types of competitive strategy?
answer
A market share dominator strategy
question
The generic types of competitive strategies include:
Which one of the following generic types of competitive strategy is typically the "best" strategy for a company to employ?
answer
One that is customized to fit the macro-environment, industry and competitive conditions, and the company's own resources and competitive capabilities
question
A low-cost leader's basis for competitive advantage is:
answer
meaningfully lower overall costs than rivals on comparable products.
question
Low-cost leaders, who have the lowest industry costs, are exceptionally good at finding ways to drive costs out of their businesses and still provide a product or service that buyers find acceptable:
answer
positioned to deliver affordable luxury products at mass market quality.
question
How valuable a low-cost leader's cost advantage is depends on:
answer
whether it is easy or inexpensive for rivals to copy the low-cost leader's methods or otherwise match its low costs.
question
A low-cost leader translates its low-cost advantage over rivals into superior profit performance by:
answer
either using its lower-cost edge to under-price competitors and attract price-sensitive buyers in great enough numbers to increase total profits or maintain the present price, and using the lower-cost edge to earn a higher profit margin on each unit sold, thereby raising total profits and overall return on investment.
question
The major avenues for achieving a cost advantage over rivals include:
answer
performing value chain activities more cost-effectively than rivals or revamping the firm's overall value chain to eliminate or bypass some cost-producing activities.
question
To succeed with a low-cost provider strategy, company managers have to:
answer
do two things: (1) perform value chain activities more cost-effectively than rivals, and (2) act proactively in revamping the firm's overall value chain to eliminate or bypass "nonessential" cost-producing activities.
question
Achieving a cost advantage over rivals entails:
answer
performing value chain activities more cost-effectively than rivals and finding ways to eliminate or bypass some cost-producing activities altogether.
question
A factor that has a strong influence on a company's costs is termed:
answer
a cost driver.
question
Which of the following is NOT an action that a company can take to do a better job than rivals of performing value chain activities more cost-effectively?
answer
Eliminate product features that might have market appeal, but excessively increase production costs
question
Cost-efficient management of a company's overall value chain activities requires that management:
answer
ferret out cost-saving opportunities in every part of the value chain.
question
Which of the following is NOT one of the ways that a company can achieve cost-efficient management of its value chain activities?
answer
Striving to ensure a corporate diversity policy is introduced with effective controls
question
The culture of a company can be a cost-efficient value chain activity because it can:
answer
allow for safeguarding internalized operating benefits.
question
Which of the following is NOT one of the ways that a company can achieve a cost advantage by revamping its value chain?
answer
Increasing production capacity and then striving hard to operate at full capacity
question
An example of how companies can revamp their value chain to reduce costs is:
answer
to increase service availability while reducing staffing requirements.
question
Success in achieving a low-cost edge over rivals comes from:
answer
out-managing rivals in finding ways to perform value chain activities faster, more accurately, and more cost efficiently.
question
While low-cost providers are champions of frugality, they:
answer
seldom hesitate to spend aggressively on resources and capabilities that promise to drive costs out of the business.
question
A competitive strategy of striving to be the low-cost provider is particularly attractive when:
answer
most buyers use the product in much the same ways, with user requirements calling for a standardized product.
question
Being the overall low-cost provider in an industry has the attractive advantage of:
answer
putting a firm in the best position to win the business of price-sensitive customers, set the floor on market price, and still earn a profit.
question
A competitive strategy to be the low-cost provider in an industry works well when:
answer
industry newcomers use introductory low prices to attract buyers and build a customer base.
question
A competitive strategy predicated on low-cost leadership tends to work best when:
answer
price competition among rivals is especially vigorous and the offerings of rival firms are essentially identical, standardized, commodity-like products.
question
In which of the following circumstances is a strategy to be the industry's overall low-cost provider NOT particularly well-matched to the market situation?
answer
When buyers have widely varying needs and special requirements, and the prices of substitute products are relatively high.
question
A strategy to be the industry's overall low-cost provider tends to be more appealing than a differentiation or best-cost or focus/market niche strategy when:
answer
the offerings of rival firms are essentially identical, standardized, commodity-like products.
question
Which of the following is NOT one of the pitfalls of a low-cost provider strategy?
answer
Setting the industry's price ceiling to capture volume gains and achieve economies of scale
question
A low-cost provider's product does NOT have to always:
answer
suggest that a low price, by itself, is not always that appealing to buyers.
question
The essence of a broad differentiation strategy is to:
answer
offer unique product attributes in ways that are valuable and appealing and that buyers consider worth paying for.
question
A company attempting to be successful with a broad differentiation strategy has to:
answer
study buyer needs and behavior carefully to learn what buyers consider important, what they think has value, and what they are willing to pay for.
question
Successful differentiation allows a firm to:
answer
command a premium price for its product, and/or increase unit sales, and/or gain buyer loyalty to its brand.
question
A broad differentiation strategy improves profitability when:
answer
the higher price the product commands exceeds the added costs of achieving the differentiation.
question
Opportunities to differentiate a company's product offering:
answer
can exist in activities all along an industry's value chain.
question
Uniqueness drivers are a:
answer
set of factors (analogous to cost drivers) that are particularly effective in having a strong differentiation effect.
question
Which of the following is NOT one of the ways managers can enhance differentiation based on uniqueness drivers?
answer
Seeking out low-quality inputs
question
Brands create customer loyalty, which in turn:
answer
increases the perceived cost of switching to another product.
question
Pursuing continuous quality improvement as a uniqueness factor is sound because:
answer
it can often reduce product defects, improve economy of use, and result in more end-user convenience.
question
Approaches to enhancing differentiation through changes in the value chain include:
answer
All of these.
question
The objective of differentiation:
answer
is to offer customers something rivals can't, at least in terms of the level of satisfaction.
question
A route to take in developing a differentiation advantage includes:
answer
incorporating tangible features that add functionality, increase customer satisfaction with the product specifications, functions, and styling.
question
Easy-to-copy differentiating features:
answer
cannot produce sustainable competitive advantage.
question
Which of the following is NOT one of the four basic routes to achieving a differentiation-based competitive advantage?
answer
Appealing to buyers who are sophisticated and shop hard for the best, stand-out differentiating attributes
question
Perceived value and signaling value are often an important part of a successful differentiation strategy because:
answer
buyers seldom will pay for value they don't perceive, no matter how real the value of the differentiating extras may be.
question
Broad differentiation strategies are well-suited for market circumstances where:
answer
there are many ways to differentiate the product or service that have value to buyers.
question
Broad differentiation strategies generally work best in market circumstances where:
answer
buyer needs and uses of the product are diverse and they are not fully satisfied by a standardized product.
question
A broad differentiation strategy works best in situations where:
answer
technological change is fast-paced and competition revolves around rapidly evolving product features.
question
A broad differentiation strategy generally produces the best results in situations where:
answer
few rival firms are following a similar differentiation approach.
question
In which one of the following market circumstances is a broad differentiation strategy generally NOT well-suited?
answer
When the products of rivals are weakly differentiated and most competitors are resorting to clever advertising to try to set their product offerings apart
question
Which of the following is NOT one of the pitfalls of pursuing a differentiation strategy?
answer
Over-emphasizing efforts to strongly differentiate the company's product from those of rivals rather than be content with weak product differentiation
question
Focused strategies keyed either to low-cost or differentiation are especially appropriate for situations where:
answer
the market is composed of distinctly different buyer groups who have different needs or use the product in different ways.
question
What sets focused (or market niche) strategies apart from low-cost leadership and broad differentiation strategies is:
answer
their concentrated attention on serving the needs of buyers in a narrow piece of the overall market.
question
A focused low-cost strategy seeks to achieve competitive advantage by:
answer
serving buyers in a narrow piece of the total market (target market niche) at a lower cost and lower price than rivals.
question
The chief difference between a low-cost provider strategy and a focused low-cost strategy is:
answer
the size of the buyer group that a company is trying to appeal to.
question
A focused low-cost strategy can lead to attractive competitive advantage when:
answer
a firm can lower costs significantly by limiting its customer base to a well-defined buyer segment.
question
A focused differentiation strategy aims at securing competitive advantage:
answer
with a product offering carefully designed to appeal to the unique preferences and needs of a narrow, well-defined group of buyers.
question
A focused strategy aimed at securing a competitive edge and which is based either on low cost or differentiation becomes more attractive when:
answer
the target market niche is small enough to limit profitability and the outlook is ripe for differentiating.
question
The risks of a focused strategy based on either low-cost or differentiation include:
answer
the potential for the preferences and needs of niche members to shift over time toward product attributes desired by buyers in the mainstream portion of the market.
question
Best-cost provider strategies are:
answer
a hybrid of low-cost provider and differentiation strategies that aim at providing desired quality/features/performance/service attributes while beating rivals on price.
question
To profitably employ a best-cost provider strategy, a company must have the resources and capabilities to:
answer
incorporate attractive or upscale attributes into its product offering at a lower cost than rivals.
question
A firm pursuing a best-cost provider strategy:
answer
seeks to deliver superior value to buyers by satisfying their expectations on key quality/service/features/performance attributes and beating their expectations on price (given what rivals are charging for much the same attributes).
question
The objective of a best-cost provider strategy is to:
answer
deliver superior value to value-conscious buyers at a comparatively lower price than rivals
question
The competitive objective of a best-cost provider strategy is to:
answer
meet or exceed buyer expectations on key quality/performance/features/service attributes and beat their expectations on price (given what rivals are charging for much the same attributes).
question
What is the primary target market for a best cost-provider?
answer
Value-conscious buyers
question
The competitive advantage of a best-cost provider is:
answer
its capability to incorporate upscale or attractive attributes into its product offering at lower costs than rivals.
question
For a best-cost provider strategy to be successful, a company must have:
answer
resource strengths and competitive capabilities that allow it to incorporate upscale attributes at lower costs than rivals whose products have similar upscale attributes.
question
The target market of a best-cost provider is:
answer
value-conscious buyers.
question
Best-cost provider strategies are appealing in those market situations where:
answer
diverse buyer preferences make product differentiation the norm and where a large number of value-conscious buyers can be induced to purchase mid-range products.
question
The big danger or risk of a best-cost provider strategy is:
answer
that rivals, with low-cost provider strategies will be able to steal away some customers on the basis of a lower price, and high-end differentiators will be able to steal away customers with the appeal of better product attributes.
question
A company's biggest vulnerability in employing a best-cost provider strategy is:
answer
getting squeezed between the strategies of firms employing low-cost provider strategies and high-end differentiation strategies.
question
Success with a best-cost provider strategy designed to outcompete high-end differentiators requires:
answer
achieving significantly lower costs in providing the upscale features
question
Each of the five generic strategies positions the company differently, except when it concerns:
answer
creating differentiation barriers within economies of scope.
question
The production emphasis of a company pursuing a broad differentiation strategy usually involves:
answer
emphasis on building differentiating features that buyers are willing to pay for and includes wide selection and many product variations.
question
The marketing emphasis of a company pursuing a broad differentiation strategy usually is to:
answer
tout differentiating features and charge a premium price that more than covers the extra costs of differentiating features.
question
The keys to maintaining a broad differentiation strategy are:
answer
to stress constant innovation to stay ahead of imitative rivals and to concentrate on a few differentiating features.
question
The marketing emphasis of a company pursuing a focused low-cost provider strategy usually is to:
answer
communicate the attractive features of a budget-priced product offering that fits niche members' expectations.
question
The underlying criteria of a best-cost provider strategy usually is found in the ability of a company to:
answer
offer similar goods at more attractive prices.
question
At the heart of a production-based emphasis toward a low-cost provider strategy usually requires a company to:
answer
strive for continuous cost reductions without sacrificing acceptable quality and essential features.
question
A company's strategy is likely to succeed if:
answer
All of these.
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