[solved] When a company adopts a low-cost provider strategy, quizlet

its foremost strategic objective becomes one of earning higher profit margins than rivals with higher costs.

it must strive to attract, please, and retain bargain-hunting buyers.

its strategic intent is one of charging an absolutely rock-bottom price and thereby attract more price sensitive buyers than all other rival companies combined.

its success in the marketplace hinges on producing and marketing a frills-free product and pursuing cost-saving approaches and/or having cost-reducing capabilities that enable it to achieve the lowest possible costs per unit sold.

it needs to find ways to drive costs out of its business such that it is able to achieve meaningfully lower costs than rivals while taking care to incorporate features and attributes into its product offering that buyers consider essential.