Friday, July 3, 2009

Low-Cost Strategy

The low-cost strategy Is a strategy a company devises to offer their products at the lowest cost possible for the consumers. The book provides examples of low cost strategy with discount stores and generic products.
For me, the problem with low-cost strategy is that I do not look for the lowest price for most products. I am one of those customers that goes off of brand preference. I buy a product not by the price, but because of past experiences with the product.
Also, the book shows that a problem with the low-cost strategy is keeping manufacturing costs down which can be hard
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12 comments:

  1. AnonymousJuly 3, 2009 at 11:20 PM

    I like your critique of low-cost strategy. It's differently hard to continue to manufacturing cost low. Managers like the one's I have are allows trying to be on top of processes, protocols, and other formal operations to streamline cost. Effective work is the name of the game. So to continue to keep cost low that have more margin to differentiate.
    While it seems that you have an emphasis on brand loyalty, building a perception of great value at low price can also be implemented for companies focusing on this strategy. Companies like IKEA, In&Out, and especially Toyota are able to seemingly mask their low cost strategy through great perception of quality. I just know I would love to work for Toyota and learn from their strategies.

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  2. Team TealJuly 4, 2009 at 9:55 PM

    I am like you, I always look for the brand names instead of the low-cost names. It's hard to match brand names with low cost names, when you know how and why they are cheaper. I always get that feeling that is I buy a brand name medicine they will not work as well as the brand name. Or even worse, they're putting something into my body that my body isn't going to like that the brand name did not. While the low cost strategy is a good idea, especially in our time, I still will spend that extra buck to get the brands I know and love.

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  3. akaFlashJuly 5, 2009 at 12:08 AM

    yeahIi agree with you on that. Low coast stratagey is certainly not the answer for every product. When it comes to certain items tat you constantly use or consume you would generally want the best for your health. At times certain companies can loose valuble customers because of thier low cost methods. One of my partners for example will not fly south west because peanuts and a soft drink should not be the only items free on a airline.

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