Best Cost Provider and Broad Differentiation in Business
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Try to reflect on how the following terms out in your organization or organizations with which you are familiar. In as much as this is a fairly large on-line class, try to be concise and parsimonious in your responses.
1.Best-cost provider
Definition: Giving customers more value for their money by incorporating good-to-excellent product attributes at a lower cost than rivals; the target is to have the lowest (best) costs and prices compared to rivals offering products with comparable attributes.
2.Broad differentiation
Definition: Seeking to differentiate the company's product offering from rivals' in ways that will appeal to a broad spectrum of buyers.
200 words each!
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The best cost provider relates to my organization, due to the fact that my organization is a retail organization that attempts to gain as many customers as possible by offering these customers the lowest prices possible on products that they need for their day-to-day activities. This organization seeks to find methods by which to maintain very low prices for their products on a continuous basis, and all of this is conducted with the goal of maintaining excellent product quality at the same time. This organization attempt to gain the best deals possible with products that they purchase, so that they will be able to transfer these cost reductions to their customer base. Due to the fact that their rival organizations are attempting to reduce their ...
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