Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jack is the owner of a math tutoring service company for his local town. Recently, many other math tutoring service companies entered the area and

Jack is the owner of a math tutoring service company for his local town. Recently, many other math tutoring service companies entered the area and Jack's company is struggling to differentiate itself from the newcomers. Jack is unable to shift to a cost-leadership strategy because he has hired highly educated and qualified tutors. Which strategy is most likely to achieve a competitive advantage for Jack's company?

a. Maintain prices but replace all the highly educated tutors with lower qualified tutors to control costs.
b. Lower service prices but continue employing highly educated tutors.
c. Offer math tutoring services similar to competitors but raise prices to increase profits.
d. Narrow the scope of competition and focus on high-school and pre-college math with higher quality tutoring than competitors.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Group Size and Communication

Answered: 1 week ago

Question

Understanding Group Roles

Answered: 1 week ago