A best cost strategy combines the elements of low-cost leadership and differentiation.

Question

Quizplus · Accepted Answer

A best cost strategy aims to provide customers with products or services that are both low-cost and differentiated from competitors. This approach requires a company to be efficient in its operations to keep costs low while also offering unique features or benefits that customers are willing to pay for. By combining these two strategies, a company can create a competitive advantage in its industry.

A Best Cost Strategy Combines the Elements of Low-Cost Leadership