A Focused Low-Cost Strategy Seeks to Achieve Competitive Advantage by

question 82

Multiple Choice

A focused low-cost strategy seeks to achieve competitive advantage by

• A) outmatching competitors in offering niche members an absolute rock-bottom price.
• B) delivering more value for the money than other competitors.
• C) performing the primary value chain activities at a lower cost per unit than can the industry's low-cost leaders.
• D) dominating more market niches in the industry via a lower cost and a lower price than any other rival.
• E) serving buyers in the target market niche at a lower cost and lower price than rivals.

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Definitions:

Efficient Market

A market in which prices fully reflect all available information, making it impossible to consistently achieve higher-than-average returns.

Profit Opportunities

Situations or strategies through which a business can increase its profits, often by improving efficiency, entering new markets, or innovating products and services.

Macroeconomic Analysis

The study and evaluation of the economy as a whole, including factors like inflation, unemployment, and economic growth.

Macroeconomy

The sector of economics study that deals with the performance, structure, and behavior of an economy as a whole, focusing on economy-wide phenomena.