Final answer:
Regularly reviewing plant and production cost benchmarking data helps a company produce branded footwear at a low cost relative to rival firms.
Step-by-step explanation:
If a company is pursuing a strategy to produce branded footwear at a low cost relative to any other rival firm, then it should regularly review the plant and production cost benchmarking data in each year's footwear industry report.
Benchmarking is a process of comparing a company's performance and costs against those of other firms in the industry. By reviewing the benchmarking data, the company can identify areas where it can reduce costs and improve its competitive advantage.
For example, if the benchmarking data shows that a competitor is able to produce footwear at a lower cost due to a more efficient production process, the company can analyze the competitor's methods and implement similar strategies to reduce its own production costs.