When competitive advantage is cost- or price-based,it is necessary to know the ________ to be sure that you can compete on this basis by matching price cuts.

Question

Quizplus · Accepted Answer

To compete on the basis of cost or price, it is essential to know the competitor's costs to ensure that you can match their price cuts. Knowing your raw material costs, economic conditions or inflation rates may be helpful but does not provide an accurate picture of your competitor's pricing strategy.

When Competitive Advantage Is Cost- or Price-Based,it Is Necessary to Know