A low-cost producer competitive strategy reflects competing in an industry on the basis of product or service cost to the consumer.

Question

Quizplus · Accepted Answer

A low-cost producer competitive strategy involves focusing on reducing production and distribution costs in order to offer products or services at a lower price to the consumer compared to competitors. This can be achieved through efficient operations, economies of scale, and careful cost management. By offering lower prices, companies can gain market share and compete effectively in the industry.

A Low-Cost Producer Competitive Strategy Reflects Competing in an Industry