cost competitive中文Focused low-cost strategyCost competitivenessLow cost leadershipCost competitive advantageDifferentiation strategyWhat focused low cost strategy is and its advantages - Medium
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This is a strategy where businesses selling similar products in a given niche lower their prices in order to increase revenue and gain a ... MarketingSMEsInvestingInsurancePersonalFinance|AboutWriteWhatfocusedlowcoststrategyisanditsadvantagesLearnwhatfocusedlowcostisandhowsmallbusinessescanuseitbizinfuseFollowAug30,2019·3minreadFocusedlowcoststrategy|PixabayTofullygraspthemeaningofafocusedlowcoststrategyletusfirstbeginbydefiningamarketsegment.Whatisamarketsegment?Amarketsegmentissimplyafocusedportionofalargehomogeneousmarketthathassimilarcharacteristicsorneeds.Marketersusesegmentationtoidentifypotentialcustomersandtoincreasesales.Anattempttosatisfytheneedsofalargemarketallatonceisatmosttimesdifficultandcostlyhencethereasonwhybusinessesprefernichemarketing.Withafocusedmarketorsegment,businessescantailorneedsandservicestosuitparticulardemographicsorgeographiclocationswhilecuttingcosts.Sincethesizeofasegmentisdeemedrelativelymanageable,marketersarealsobroughtclosertotheirtargetaudiencesandcanthusinteractandunderstandthembetter.However,therearecaseswhereabusinesscanidentifyanichemarketfortheirproductbutlaterfindoutthatothercompaniesalreadyexistinthatmarket.Theymayalsonoticethatpricesofferedbythosecompetitorsaresimilartowhattheyareoffering.Sowhatnext?Shouldabusinesscompromiseonvalueorprice?Ifyoudecidetocompromiseonprice,thismeansyouareapplyingalowcoststrategytobeatcompetition.Whatisfocusedlowcoststrategy?Thisisastrategywherebusinessessellingsimilarproductsinagivennichelowertheirpricesinordertoincreaserevenueandgainacompetitiveadvantage.Insteadofcompromisingonvalueorthrowingalreadyscarcemoneyintoimprovingaproduct,loweringcostsisabetterwayofattractingcustomers.Buyersarealwayscomparingpriceswhethertheyarebillionaires,millionairesorjustregularfolks.Furthermore,ifyourbusinessisofferingthesameproductataffordablepricesthaneveryoneelsethenyouaredefinitelyguaranteedanincreaseintraffictowardsyourbusiness.Focusedlowcoststrategy|Flickr|JoeSomewouldarguethatintermsofcosteffectivenessorreturns,thatyourbusinesswillbelosing.Thatisnotthecase.Forafocusedlowcoststrategytoworkwell,allabusinessneedstodoiscutcosts.Improvingthecompany’sworkflowbyreorganizingproductionpipelines,usingnewtechnologyandstreamliningyousupplychaincandramaticallyreducecostofdoingbusiness.Thisalsoincreasestheefficiencylevelatwhichyourbusinessoperates.Outsourcingsomeservicesthatalsoconsumealotofmoneyisanotherwaybusinessescaneffectivelyreducecosts.Whataretheadvantagesoflowcoststrategy?Cutoperationalcosts.Increasesales.Businessgrowthopportunity.Expandcustomerbase.Interactcloselywithtargetaudience.ConclusionSuccessfulbusinessesusefocusedlowcoststrategytoleveragesalesandexpandtheirreach.Theyappreciateandcomprehendtheneedtosegmentahomogeneousmarketintosmallersubgroupsthataremanageable.Oncetheyidentifycompetitiontheyadjusttheirpricesinordertomakeiteasytoreachtheirtargetaudience.Afocusedlowcoststrategyhelpscompaniesstayinbusinesswhileincreasingsales.Withtimecustomersshifttheirattentiontoyourbusinessbecauseyourpricesareattractive.MorefromBizinfuse:ComprehensivemarketsegmentationdefinitionLearnwhatmarketsegmentationisandhowit’simportantforyourbusinessmedium.combizinfuseBizinfuseisaplatformwherereaderscanlearneverything…MarketingStartupBusinessProductManagementMoneybizinfuseBizinfuseisaplatformwherereaderscanlearneverythingbusiness.Getallthelatesttipsandideasthatwillhelpyourbusinessgrow.WrittenbybizinfuseFollowWearetheeditorsforthemediumpublicationBizinfuse.Founded25August2019bizinfuseBizinfuseisaplatformwherereaderscanlearneverythingbusiness.Getallthelatesttipsandideasthatwillhelpyourbusinessgrow.MoreFromMediumHowtostartapodcast:Findingadvertisers&monetizingyourpodcastAnupGosaviinSpext5ExpertTipsForCreatingABlogThatConvertsRussellAlleninMarketingAndGrowthHackingFashionBusiness:StayingAfloatInThePandemicApiaryCoworkingSpaceLikeToKnow.it — ShopYourFavoriteInfluencer'sPostsonthisNichePlatformAmandaEmoryTipsOnHowToReduceWebsiteFootprintsJanessaTraninGretaThemesPlananeffectiveandhighlysuccessfulonlinemarketingcampaign — OpenDesignsIndiaShrikrishnaTangaturinOpenDesignsTrademarkingandCopyrighting:TheBigDifferencesYouNeedToKnowJasonTuckerBuildingyouronlinebusiness—Boonorbane?RudreshwarGoswamyintaglr
延伸文章資訊
- 1Low Cost Strategy Meaning, Factors & Example | MBA Skool
Low cost strategy is a type of pricing strategy in which the firm offers the products at low pric...
- 2Low-Cost Strategy - an overview | ScienceDirect Topics
Low-Cost Strategy ... Penetration pricing: To challenge established brand loyalty and lock-in, on...
- 3Strategies to Fight Low-Cost Rivals - Harvard Business Review
A successful two-pronged approach requires the low-cost business to use a unique brand name such ...
- 4Low cost strategy - CEOpedia | Management online
Low-cost strategy(also Low-cost price) is a pricing strategy characterized by low prices of goods...
- 5What focused low cost strategy is and its advantages - Medium
This is a strategy where businesses selling similar products in a given niche lower their prices ...
