In 4 to 5 sentences respond to the statement below about low-cost leadership

• This is a way to establish the competitive advantage with the lowest cost of operation in the industry. There are many companies that use this model of low cost leadership Walmart, Mcdonalds, Ikea, and Southwest Airlines. This is often driven by company efficiency, size, scale, scope, and cumulative experience. This opens up a sustainable cost advantage over rivals, using lower cost edge as a basis. A business will have to manage its value chain and actively lower costs throughout the entire supply chain. While doing this products must be on par with the competitors otherwise consumers will stop buying them and look for better quality alternatives