Abstract:
This essay starts with a background of the entire study, which presents the origin and effect of competition on the local markets and the need for producers to become lower-cost producers.
It also starts with the objectives of the study with respect to the research questions raised ( in relation to the problem statement).
Literature available on the subject was reviewed reflecting different options being expected by different writers on cost management techniques available to production firms and how it can influence their scale of operations.
Questionnaire was design as an instrument for collecting information from relevant respondents to the study.
The performance of the industry on the local market was discussed in chapter four (4). The aims is to assess the effective cost management techniques on the firms operations in terms of sales volume, how traders and consumers view the price and quality of product, and how it had influence their level of demand for the product at the market, and cost management techniques used by the firms Finally, based on the facts gathered, conclusion was drawn on the price with recommendation of cost management techniques available for product firms and how it can be used effectively to reduce total cost to gain competitive advantage( lower cost production).
