A strategy to be the industry's overall low-cost provider tends to be more appealing than a differentiation or best-cost or focus/market niche strategy when

a. there are many ways to achieve product differentiation that buyers find appealing.

b. buyers use the product in a variety of different ways and have high switching costs in changing from one seller's product to another.

c. the offerings of rival firms are essentially identical, standardized, commodity-like products.

d. entry barriers are high and competition from substitutes is relatively weak.

e. the market is composed of many distinct segments with varying buyer needs and expectations.

Question

Cruella

Business

14 July, 01:25

A strategy to be the industry's overall low-cost provider tends to be more appealing than a differentiation or best-cost or focus/market niche strategy when

a. there are many ways to achieve product differentiation that buyers find appealing.

b. buyers use the product in a variety of different ways and have high switching costs in changing from one seller's product to another.

c. the offerings of rival firms are essentially identical, standardized, commodity-like products.

d. entry barriers are high and competition from substitutes is relatively weak.

e. the market is composed of many distinct segments with varying buyer needs and expectations.

+5

Answers (1)

Know the Answer?

Tyrese Craig · Answer 1

The offerings of rival firms are essentially identical, standardized, commodity-like products.

Explanation:

Strategy refers to the plans that are made and executed by a firm in achieving the objectives. Niche refers to the segment of customer that is being focused by a business in selling its products and services. When any company sells its products and services at a lower cost than its competitors then it will achieve success and also will survive in the market rivalry.

Differentiation refers to the process of selling the similar products at different prices to different consumers of different market. A strategy to overall low-cost provider of the industry tending to be more appealing when compared with the differentiation or best-cost or focus/market niche strategy when The offerings of rival firms are essentially identical, standardized, commodity-like products.