Business & Finance homework help| Business & Finance homework help
This strategy, I think, is crucial to the company’s long-term success. It gives the firm a competitive advantage by offering excellent customer service and great value. It can also help customers build loyalty and attract customers that may prefer cheaper products over the more costly ones. Companies can also maximize their profits with cost leadership by attracting more customers who are willing to pay for its services and products without losing too much profit margin.
The decision to use cost leadership for the company’s business-level strategy was good. It allows them to be competitive in a changing market and still provide excellent customer service. If done correctly, this strategy can help open new markets for expansion.