Q84
An organization's ability to offer market offerings at lower prices, in comparison with its competitors is known as
A.
inelastic demand
B.
product differentiation
C.
cost leadership
AnswerD.
elastic demand
Answer: Option C
Solution
Answer: Option C
Solution:
An organization's ability to offer market offerings at lower prices, in comparison with its competitors is known as cost leadership. Cost Leadership is the mechanism of establishing a competitive advantage by having the lowest cost of operation in the industry.