What type of competitive advantage does a best-cost provider strategy aim at achieving? Explain what a company has to do to achieve this advantage.
What will be an ideal response?
Best-cost strategies create competitive advantage by giving buyers more value for the money-delivering superior quality, features, performance, and/or service attributes while also beating customer expectations on price. To profitably employ a best-cost provider strategy, a company must have the capability to incorporate attractive or upscale attributes at a lower cost than rivals. A best-cost provider strategy works best in markets with large numbers of value-conscious buyers desirous of purchasing better products and services for less money.
You might also like to view...
By enabling the spread of collaboration and ideas, an online-based company promotes
a. increased productivity. b. product innovation. c. increasing markets. d. decreasing costs.
For an effective interview, an expert should most likely be ________
A) defensive and objective B) confident and rigid C) informative and entertaining D) prepared and highly technical E) aloof and simplistic
On January 1, Year 2 Grande Company had a $25,000 balance in the Accounts Receivable account and a zero balance in the Allowance for Doubtful Accounts account. During Year 2, Grande provided $86,000 of service on account. The company collected $82,500 cash from accounts receivable. Uncollectible accounts are estimated to be 2% of sales on account.What is the amount of cash flow from operating activities that would appear on the Year 2 statement of cash flows?
A. $86,000 B. $80,850 C. $61,500 D. $82,500
Which of the following is correct relating to an engagement to apply agreed-upon procedures to prospective financial statements?
A. Such engagements are permissible for forecasts but not for projections. B. Such engagements are not permissible under the professional standards. C. Use of the report is restricted to the specified users. D. Responsibility for the adequacy of the procedures performed is taken by the practitioner.