Company X wants to become the lowest cost producer in the industry.What should it do?

Question

Quizplus · Accepted Answer

In order to become the lowest cost producer in the industry, Company X should focus on constructing efficient large-scale facilities. This will allow them to lower their production costs and offer their products at a lower price point than their competitors. Creating a unique product or investing in branding may differentiate them from others in the market, but it may also increase their costs, which is counterproductive to their goal of becoming the lowest cost producer. Similarly, reducing expenditure on production facilities may lead to lower quality products and ultimately negatively impact their position in the market.

Company X Wants to Become the Lowest Cost Producer in the Industry.What