Core Concept of price and cost competitive of the company

Question

Explain the Core Concept of the company’s price and cost competitive.

Answer 1

CORE CONCEPT:

The superior a company’s costs are above those of close up rivals, the extra competitively susceptible it becomes.

Two analytical instruments are particularly valuable in determining whether a company’s costs and prices are competitive and thus helpful to winning in the market-place: benchmarking and value chain analysis.