which strategy has greater control over market as well as competitors
Answers
Answer:
expansion strategy
Explanation:
expansion strategy
Answer: Low- cost strategy
Explanation:
When there is fierce price competition, the service is a commodity that is offered by many vendors, it is challenging to differentiate, the service application is standardised, switching costs are low, buyers have negotiating power, and new entrants use low cost to build a customer base, low-cost strategies perform best. Cut operating expenses, boost sales, provide business growth opportunities, broaden client base, and interact closely with target audience are all benefits of this kind of approach. Focused low cost strategies are employed by profitable companies to increase sales and penetrate new markets. They see and realise the necessity to divide a homogenous market into more manageable subsets. As soon as they spot competition, they modify their pricing to make it simple to reach their target market.
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