Suppose in your town there is only one hairstylist that usually charges around $60 for a woman's haircut. While that is considered expensive in the area, the business has great reviews because the stylists are well-trained, are very creative, and they have great customer service. After doing some market research you determine that there is room in the market for another styling shop in the area. How would you compete with this other shop using a low-cost strategy? Try to be specific and highlight the factors that drive your chosen strategy.

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Here is how I would compete with a lowcost strategy against the existing highend hair salon charging ... View the full answer