Question

The objective of a best-cost strategy is to: a. Deliver superior value to value-conscious buyers at a comparatively lower price than rivals. b. Out-compete rivals using low-cost provider strategies. c. Translate its best-cost status into achieving the highest profit margins of any firm in the industry.

Answer 1

a. Deliver superior value to value-conscious buyers at a comparatively lower price than rivals.

Step-by-step explanation:

The objective of a best-cost strategy is to: Deliver superior value to value-conscious buyers at a comparatively lower price than rivals.

A best-cost strategy is built on product offering that guarantee customers better value for money by focusing both on low cost and upscale difference.

The ultimate goal of the best-cost strategy is costs and prices reduction to a point lower than other providers of similar products with comparable quality and features.