Question

Which of the following is the best example of competing on​ low-cost leadership?
A. A​ company's products are introduced into the market faster than its​ competitors' products are.
B. A company offers free delivery of online orders.
C. A company produces its product with more efficient labor than its competitors do.
D. A​ company's research and development department generates many ideas for new products.

Answer 1

A. A firm produces its product with less raw material waste than its competitors.

Answer 2

The best example of competing on low-cost leadership is "A company produces its product with more efficient labor than its competitors do".

• Low cost leadership is a strategy used to produce comparable value goods or services at a lower cost than its competitors. It helps a company to produce at a lower cost compared to competitors.

• Producing at a lower cost helps to reduce the price of their products, thereby increasing customers patronage. The company also realise high profit due to increase in sales.

Therefore, the best example of competing on low-cost leadership is "A company produces its product with more efficient labor than its competitors do".

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