A specific cost position can significantly affect a business's competitiveness. If a business can maintain a lower cost position, it can offer its products or services at a lower price than its competitors, which can attract more customers and increase market share. On the other hand, if a business has a higher cost position, it may need to justify these higher costs with superior quality, unique features, or additional services. Otherwise, it may lose customers to competitors with lower prices.
Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against com...
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