Answer to Question #298794 in Marketing for Eye

Question

Give a brief discussion of each 5 competitive priorities.

Answer 1

1. Cost. To compete successfully in a market niche that buys solely on the basis of price, a company must be a low-cost producer.

2. Quality. Quality can be divided into two categories: product quality and process quality.

3. Delivery. The speed with which products are delivered to clients is an essential factor in their purchasing choice.

4. Flexibility. The ability of a corporation to offer a wide range of items to its clients is referred to as flexibility.

5. Service. Firms are now delivering value-added services in the event of items or commodities where the key determinant in the purchase decision is pricing (for example, personal computers).