What is the most likely way for consumers to benefit because a firm uses a strategy of one product for multiple market segments?

Question

Emery Ware

Business

27 May, 19:14

What is the most likely way for consumers to benefit because a firm uses a strategy of one product for multiple market segments?

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Answers (1)

Know the Answer?

Molly Ferrell · Answer 1

lower production costs will lead to lower retail prices.

Explanation:

If a company is able to use the same strategy of one of it's products for all the market segments, then it will be able to significantly cut down on production costs that would otherwise be incurred from having to use many different strategies. These lower production costs would lead to lower retail prices which greatly benefit the consumers since they will be paying less for the products.