BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A strategy an organization uses to build competitive advantage by being efficient and offering a standard, no-frills product
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Low Cost Strategy
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Business Strategy
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Differentation Strategy
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Functional Strategy
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Explanation:
Detailed explanation-1: -Cost strategy is built on no-frills. Cost leadership strives towards cutting costs to a minimum possible levels in order to provide customers with lower prices and thus boost their savings.
Detailed explanation-2: -A pricing strategy in which a company offers a relatively low price to stimulate demand and gain market share.
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