A low-cost provider's basis for competitive advantage is:
a. using an everyday low pricing strategy to gain the biggest market share.
b. larger profit margins than rival firms'.
c. high buyer switching costs because of the company's differentiated product offering.
d. meaningfully lower costs than competitors' but not necessarily the absolutely lowest cost/price.
e. a reputation for charging the lowest prices in the industry.
Ans: d. meaningfully lower costs than competitors' but not necessarily the absolutely lowest cost/price.
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