An organization's ability to offer market offerings at lower prices, in comparison with its competitors is known as
A. inelastic demand
B. product differentiation
C. cost leadership
D. elastic demand
Answer: Option C
Solution (By Examveda Team)
An organization's ability to offer market offerings at lower prices, in comparison with its competitors is known as cost leadership. Cost Leadership is the mechanism of establishing a competitive advantage by having the lowest cost of operation in the industry.This Question Belongs to Management >> Management Accounting
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