The Competitive Objective of a Best-Cost Provider Strategy Is to

question 34

Multiple Choice

The competitive objective of a best-cost provider strategy is to

• A)outmatch the resource strengths of both low-cost providers and differentiators.
• B)position the company outside the competitive arena of low-cost producers and differentiators.
• C)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).
• D)deliver superior value to buyers by doing such a good job of cost control that it ends up with the best cost (as compared to rivals)in performing each activity in its value chain.
• E)identify and concentrate on those differentiating features that are inexpensive to incorporate.

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Definitions:

Consumer Price Index

A gauge that assesses the combined average prices of a variety of consumer products and services, encompassing transportation, food, and medical attention.

Cyclical Unemployment

This type of unemployment is caused by the downturns in the business cycle, where workers lose their jobs due to a lack of demand during economic recessions.

Discouraged Worker

An individual who has stopped looking for employment due to the belief that no jobs are available for them or there are none for which they would qualify.

BLS

The Bureau of Labor Statistics, a US government agency responsible for collecting and analyzing critical economic data, including employment and inflation.