The objective of a best-cost provider strategy is to:

a. deliver superior value to value-conscious buyers at a comparatively lower price than rivals.

b. translate its best-cost status into achieving the highest profit margins of any firm in the industry.

c. out-compete rivals using low-cost provider strategies.

d. attract buyers on the basis of having the industry's overall best-performing product at a price that is slightly below the industry-average price.

e. offer buyers the industry's best-performing product at the best cost and best (lowest) price in the industry.

Question

Korin

Business

8 March, 07:42

The objective of a best-cost provider strategy is to:

a. deliver superior value to value-conscious buyers at a comparatively lower price than rivals.

b. translate its best-cost status into achieving the highest profit margins of any firm in the industry.

c. out-compete rivals using low-cost provider strategies.

d. attract buyers on the basis of having the industry's overall best-performing product at a price that is slightly below the industry-average price.

e. offer buyers the industry's best-performing product at the best cost and best (lowest) price in the industry.

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Answers (1)

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Jaidyn Barr · Answer 1

e. offer buyers the industry's best-performing product at the best cost and best (lowest) price in the industry.

Explanation:

Best cost provider strategy aims to provide the best goods as there is no compromise in quality and then the cost for customers is also comparatively low, as that provided by competitors.

This is clearly demonstrated by statement e, all other statements are not describing the basic characteristics of best cost providing strategy.

This is basically by attracting more and more customers with the low price and with no degradation in the quality, as this is least cost to customers, the customers prefer this a lot.