A cost advantage competitive strategy involves a significantly lower cost compared to the competition which permits reasonable profit margins while offering lower prices.

Question

Quizplus · Accepted Answer

A cost advantage competitive strategy indeed focuses on achieving lower operational costs than competitors, allowing a company to offer products or services at lower prices while still maintaining healthy profit margins. This strategy can make a company more attractive to price-sensitive customers and increase its market share.

A Cost Advantage Competitive Strategy Involves a Significantly Lower Cost