Which of the following is a strategy for a low-cost producer?
A)competing in an industry on the basis of product quality
B)capitalizing on a key product criteria requested by the market
C)competing in an industry on the basis of product or service cost to the consumer
D)competing in an industry on the basis of product quantity

Question

Quizplus · Accepted Answer

A low-cost producer strategy focuses on competing in the industry based on offering products or services at a lower cost to the consumer than competitors. This can be achieved through various means such as optimizing production processes, reducing waste, or sourcing cheaper materials. Competing based on product quality, quantity or capitalizing on a key product criteria may require additional investments or expenses that can increase production costs, which goes against the low-cost producer strategy.

Which of the Following Is a Strategy for a Low-Cost