10 Questions
What is one of the success factors for companies employing a low-price strategy?
Extreme cost and process efficiency
Which global company is mentioned as an example of employing a low-price strategy?
IKEA
How do successful low-price companies procure materials?
By strictly purchasing for low prices while ensuring high-quality materials
What do successful low-price companies focus on in their advertisements?
Price promotions
How do successful low-price companies finance their operations?
By avoiding debt entirely
What is a key factor for companies employing a high-price strategy?
Superior value to the customer
Which approach do companies like H&M and Zara take to ensure high efficiency?
Trimming and slimming all activities
What is the main reason behind Dell's ability to offer lower prices?
Configuring to order and eliminating retailer margin
What is emphasized as a must for companies employing a high-price strategy?
Consistent and high quality
What is considered a foundation for companies employing a high-price strategy?
Innovation and continual improvements
Test your knowledge on the success factors of companies employing a low-price strategy including their focus on low prices and high volumes, operational efficiency, and more.
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