Ad
related to: cost cutting meaning in business- Drive Procurement Value
Use these strategies to combat
procurement capacity issues.
- Optimize Your Workforce
Workforce strategies that help you
stay efficient during uncertainty.
- Finance Cost Report
Build a recession-ready business
with these cost optimization steps
- Cost Efficiency Strategy
Learn cost efficiency approaches
of top performing finance teams.
- Drive Procurement Value
Search results
Results From The WOW.Com Content Network
Cost reduction. Cost reduction is the process used by organisations aiming to reduce their costs and increase their profits, or to accommodate reduced income. Depending on a company’s services or products, the strategies can vary. Every decision in the product development process affects cost: design is typically considered to account for 70 ...
Cost breakdown analysis. Components of price. Image according to Garrett (2008), figure 4-1, p.65. In business economics cost breakdown analysis is a method of cost analysis, which itemizes the cost of a certain product or service into its various components, the so-called cost drivers. The cost breakdown analysis is a popular cost reduction ...
Predatory pricing is a commercial pricing strategy which involves the use of large scale undercutting to eliminate competition. This is where an industry dominant firm with sizable market power will deliberately reduce the prices of a product or service to loss-making levels to attract all consumers and create a monopoly. [ 1]
For premium support please call: 800-290-4726 more ways to reach us
e. Cost accounting is defined by the Institute of Management Accountants as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, allocating, aggregating and reporting such costs and comparing them ...
Cost-shifting. Cost-shifting[ 1] is an economic situation where one individual, group, or government underpays for a service, resulting in another individual, group, or government overpaying for a service (shifting compared to the expected burden). [ 2][ 3] It can occur when one group pays a smaller share of costs than before, resulting in ...
Target costing. Target costing is an approach to determine a product's life-cycle cost which should be sufficient to develop specified functionality and quality, while ensuring its desired profit. It involves setting a target cost by subtracting a desired profit margin from a competitive market price. [ 1] A target cost is the maximum amount of ...
Price war. A price war is a form of market competition in which companies within an industry engage in aggressive pricing strategies, “characterized by the repeated cutting of prices below those of competitors”. [ 1] This leads to a vicious cycle, where each competitor attempts to match or undercut the price of the other. [ 2]
Ad
related to: cost cutting meaning in business