Question

If a company is pursuing a strategy to differentiate its branded footwear from the offerings of rival companies, its managers should make a point of examining the facility and production cost benchmarking statistics reported in p.6 of each issue of the FIR in order to

Answer 1

Given that this company wants to differentiate its brand from that of its rivals, the managers should do this examination in order to determine if they have to take immediate actions in order to reduce cost of production.

They have to know if they should immediately take actions to reduce their cost of production at a specific facility due to the fact that the cost of producing one footwear is higher in comparison to their rivals.

By carrying out this comparison with the rivals, this business would be able to tell if there is a way they could cut down their cost and provide more value to their consumers.

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