Low-Cost Strategy
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Low-Cost Strategy is a generic business unit strategy in which a larger business produces, at the lowest cost possible, no-frills products and services industry-wide for a large market with a relatively elastic demand.
Definition
According to the Strategic Management by Parnell (4th edition),
- Low-Cost Strategy. A generic business unit strategy in which a larger business produces, at the lowest cost possible, no-frills products and services industry-wide for a large market with a relatively elastic demand.
