For a Best-Cost Provider Strategy to Be Successful,a Company Must

question 34

Multiple Choice

For a best-cost provider strategy to be successful,a company must have

• A) excellent marketing and sales skills in convincing buyers to pay a premium price for the attributes/features incorporated in its product.
• B) the capability to incorporate upscale attributes at lower costs than rivals whose products have similar upscale attributes.
• C) access to greater learning/experience curve effects and scale economies than rivals.
• D) one of the best-known and most respected brand names in the industry.
• E) a short,low-cost value chain.

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Definitions:

Elderly Family Members

Refers to older relatives, often parents or grandparents, who may require support and care due to age-related issues.

Credibility

The quality of being trusted and believed in, often based on a reputation for honesty and integrity.

Competence

The ability to do something successfully or efficiently, often acquired through experience and training.

Time Effectiveness

Time effectiveness refers to how well and efficiently time is managed and utilized to achieve desired outcomes.