Question

Describe what a best-cost provider strategy is? When does this strategy work best?

Answer 1

Business can provide value for its consumers by using the best cost provider strategy and also giving the consumer a higher end product at a lower cost. best cost provider strategy is effective business level strategy to the extent that a firms offers differentiated goods and services at relatively low prices. Best cost provider strategy work best in the market where product differentiation is the norm and an attractively large number of value conscious buyers can be induced to purchase midrange product rather than cheap, basic product or expensive or top of the line product.