Operational efficiency and cost reduction

Assignment Help Management Theories

Reference no: EM133641847

Question: Focus (Cost Focus): Explanation: The company focuses on cost efficiency by leveraging technology (unique mobile app and GPS mapping technology) to reduce the time for drivers to pick up passengers and reach their destinations. Providing the mobile app for free to all riders aligns with a cost-focused approach, where the company seeks to attract a broad customer base by offering a cost advantage. Characteristics of Cost Focus: Targeting a specific market segment or industry with a cost advantage. Offering products or services at a lower cost than competitors. Tailoring activities and resources to meet the needs of the focused market segment. Key Points: The company is not charging riders for the mobile app, emphasizing a cost-sensitive approach to attract a larger user base. The focus is on operational efficiency and cost reduction using technology to provide a cost advantage in the on-demand transportation market.

Reference no: EM133641847

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