Tyler is a small independent shoe store. It is located on a local high street. A new hypermarket that sells shoes as part of its product offering has just been built at the bottom of the high street. Tyler has seen its sales fall in recent months and the owner is looking at ways he can compete more effectively.
Which ONE of the following is MOST LIKELY to help reduce Tyler’s costs in an effort to compete more effectively?
Select ONE answer:
- Increase its advertising in the local newspaper
- Provide better service by taking on more staff
- Increase the range of its shoes
- Ordering cheaper shoes from its suppliers
- Relocating to new premises
What are the other things that Tyler could do become more competitive through cost reduction?
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This is multiple choice question is suitable for Business Studies KS4 classes.
The answer is 4 – Cheaper shoes will allow Tyler to reduce the price he charges and allow him to be more competitive as a result against his larger rival.
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