Which of the following practices can help businesses gain a cost competitive advantage?
A)Using simplified production techniques
B)Using expensive raw materials
C)Customizing products with extra frills
D)Focusing on serving marginal customers

Question

Quizplus · Accepted Answer

Using simplified production techniques can help businesses reduce their production costs, which can give them a cost competitive advantage. Choosing expensive raw materials, customizing products with extra frills, or focusing on serving marginal customers are not likely to reduce costs and may even increase costs, resulting in a loss of competitive advantage.

Which of the Following Practices Can Help Businesses Gain a Cost