Businesses using a low-cost strategy try to be efficient and offer a standard, no-frills product.

Question

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Businesses using a low-cost strategy aim to minimize their costs and offer their products or services at a lower price point than their competitors, often by stripping away unnecessary features or frills. The focus is on efficiency and cost-effectiveness, rather than providing a premium or luxury product.

Businesses Using a Low-Cost Strategy Try to Be Efficient and Offer