The _____ approach is a method for introducing lower cost products by eliminating or reducing features,using less-expensive materials,or altering the service or warranty to offer the product at a lower price point to the market.

Question

Quizplus · Accepted Answer

The description given in the question closely matches the definition of cost reduction which is the process of lowering the cost of goods produced or services provided by reducing overhead, eliminating waste, or enhancing productivity.

The _____ Approach Is a Method for Introducing Lower Cost