Can cost leadership strategy be effective for larger businesses?
Asked 3 years ago
Hi, in the past year, I have moved my business from a brick-and-mortar store to a Wix-based e-commerce store. As my business has reduced a lot of its costs now I do not need to pay for rent and bills I have been reducing the price in line with this to maximize my potential customer base. However, as my business is already established, I am wondering whether this is the best approach to be taken. Are there any examples of larger businesses implementing such a strategy?
Abeeha Qasmi
Wednesday, January 18, 2023
Yes, a cost leadership strategy can be effective for larger businesses. It allows you to offer customers high-quality products at a low price. As a matter of fact, it's often the case that large companies have a lot more competition than smaller businesses do. This means that if you're a large company, you may charge higher prices and still sell your products or services at a relatively low cost to maintain your market share.
Please follow our Community Guidelines
Related Articles
Abandoned Carts on WooCommerce: Rates, Recovery, and Plugins
BeProfit Staff
March 7, 2023
5 Quick Steps to Check Amazon Sales Data (+ Helpful Shortcuts)
Ashley Stander
November 18, 2022
E-commerce Shipping Insurance In 2023: What Are Your Options?
Marcel Deer
June 8, 2023
Related Posts
Ashley Stander
4 Simple Steps to a Seamless Wix Shopify Integration
Can't find what you're looking for?