low cost strategy
Definition
Under which a firm offers a relatively low price to stimulate demand and gain market share. It is one of three generic marketing strategies (see differentiation strategy and focus strategy for the other two) that can be adopted by any firm, and is usually employed where the product has few or no competitive advantage or where economies of scale are achievable with higher production volumes. Also called low price strategy.
low cost strategy is in the Advertising, Marketing, & Sales and Decision Making, Problem Solving, & Strategy subjects.
low cost strategy appears in the definitions of the following terms: focus strategy, low price strategy, differentiation strategy and generic strategies
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