The low-cost strategy is based on locating and taking advantage of opportunities for an organization to seek cost-based advantages in all of its activities.

Question

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The low-cost strategy involves minimizing costs in all aspects of the business to gain a cost-based advantage over competitors. It is a valid approach for organizations seeking to offer products or services at lower prices than their competitors while maintaining profitability.

The Low-Cost Strategy Is Based on Locating and Taking Advantage