Question

Companies that achieve Value Innovation a. pursue differentiation and low cost simultaneously b. pursue differentiation or low cost c. pursue differentiation or low price d. None of the above

Answer 1

Answer: a. pursue differentiation and low cost simultaneously

Step-by-step explanation:

Value Innovation as a strategy is highly sought after in many industries as it represents an opportunity to acquire more market share whist keeping costs low. This is because with Value innovation, a company invests in technology that will achieve both low costs and differentiation simultaneously.

This is great news for both consumers and the company because consumers get to buy more differentiated products at lower prices and for the company, they will get more customers buying from their brand.