Low price and product features - operation strategy, Operation Management

Low Price and Product Features - Operation Strategy

Low price 

The ability of the operations system to satisfy the customers' requirements more cost-effectively (and by implication at lower price) than competitors. Virgin Atlantic captured a significant segment of the cross-Atlantic air-travel market by providing customers with a low-priced service. 

Product features or performance  

The extent to which a product or service offers more features or otherwise out-performs the offerings of competitors. Companies such as Porsche, Rolex and Hilton Hotels compete on these order winners.

Posted Date: 3/18/2013 1:57:31 AM | Location : United States

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