Which of the following is the best example of competing on low-cost leadership?
A) A firm produces its product with less raw material waste than its competitors do.
B) A firm offers more reliable products than its competitors do.
C) A firm's products are introduced into the market faster than its competitors' products are.
D) A firm's research and development department generates many ideas for new products.
E) A firm advertises more than its competitors do.

Question

Quizplus · Accepted Answer

Competing on low-cost leadership involves producing goods or services at a lower cost than competitors. Producing products with less raw material waste means that the firm is producing goods more efficiently, which can translate to lower costs and a competitive advantage in terms of pricing. Offering more reliable products, introducing products faster, generating ideas for new products, and advertising more may lead to customer satisfaction and potentially increased sales, but they do not necessarily result in lower costs or a low-cost leadership position.

Which of the Following Is the Best Example of Competing