To maintain market share and revenue in an increasingly price-sensitive market, companies have focused on quality, used labour-saving technologies and used efficient manufacturing processes.These tactics have provided gains in productivity that have translated into __________ for the company and __________ for the consumer.
A)higher costs; higher prices
B)higher costs; lower prices
C)lower costs; lower prices
D)lower costs; higher prices
E)no change in costs; no changes in prices

Question

Quizplus · Accepted Answer

By using efficient manufacturing processes and labour-saving technologies, companies have been able to lower their costs of production. This has allowed them to offer lower prices to consumers while maintain profits, as evidenced by the fact that they have been able to maintain market share and revenue. Therefore, the correct answer is C: lower costs; lower prices.

To Maintain Market Share and Revenue in an Increasingly Price-Sensitive