question archive Two analytical tools useful in determining whether a company's prices and costs are competitive are 0 A
Two analytical tools useful in determining whether a company's prices and costs are competitive are 0 A
Subject:Operations ManagementPrice:2.85 Bought3
Two analytical tools useful in determining whether a company's prices and costs are competitive are 0 A. driving forces analysis and SWOT analysis O B. SWOT analysis and key success factor analysis 0 C, competitive position assessment and competitive strength assessment O D. SWOT analysis and benchmarking CE value chain analysis and benchmarking
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E) Value chain analysis and Benchmarking
- Value chain tells us about activities that add value for customers. So if a competitor product adds lesser value at price point X, we can price the product at Point Y depending on the value we add. If value added is more, Y can be greater than X, If value added is same, Y=X and if value-add is less, Y <X,
- Benchmarking is a process of looking at prevalent prices and best practices in the industry related to product pricing.
B) The primary activities that create value for customers and related support activities
Value chain analysis covers primary and support activities that add competitive strength.
