BUSINESS SIMULATION STUDY GUIDE 2026
◉ low cost provider discription.
Answer: striving to achieve lower costs than rivals on products that
attract a broad section of buyers
◉ broad differentiation description.
Answer: differentiating the firm's product offering from rivals with
attribute that appeal to a broad section of buyers
◉ focused low-cost description.
Answer: concentrating on a narrow price sensitive buyer segment
and on cots to offer a lower priced product
◉ focused differentiation description.
Answer: focusing on a narrow buyer segment by meeting specific
tastes and requirements of niche members.
◉ best-cost provider.
Answer: giving customers more value for the money by offering
upscale product attributes at a lower cost than rivals
, ◉ Company examples of low cost providers?.
Answer: Costco
Aldi
IKEA
Walmart
Dell
◉ Company examples of broad differentiation?.
Answer: Apple
Starbucks
GM
Nike
◉ Company examples of focused low-cost?.
Answer: Papa Murphys
Dollar Shave Club
Claires
◉ Company examples of focused differentiation?.
Answer: Tesla