Question

Which best describes the Low Cost Provider Strategy?

A. Giving customers more perceived value for their money by satisfying their expectations on key quality features, performance, and/or service attributes that match or exceed their price expectations.
B. Concentrating on a narrow buyer segment (or market niche) by offering buyers customized attributes that meet their specialized needs and tastes better than rivals' products.
C. Achieving a cost-based advantage over rivals.
D. Differentiating the firm's product or service from rivals in ways that appeal to a broad spectrum of buyers.

Answer 1

The Low Cost Provider Strategy is focused on achieving a cost-based advantage over rivals.

Step-by-step explanation:

The Low Cost Provider Strategy is best described by option C: Achieving a cost-based advantage over rivals. This strategy focuses on minimizing costs and offering products or services at a lower price compared to competitors, while still maintaining acceptable quality and performance.