Businesses pursuing a ___ seek a competitive advantage by concentrating on one special market segment and trying to be the lowest cost provider in that segment.

A) differentiation strategy
B) cost leadership strategy
C) focused differentiation strategy
D) focused cost leadership strategy
E) retrenchment strategy

Focused Cost Leadership

A strategy where a business aims to be the lowest cost producer in a specific niche or segment.

Competitive Advantage

The attributes that allow an organization to outperform its competitors, including cost structure, product offerings, brand reputation, and customer service.

Market Segment

A distinct group of customers within a broader market, defined by specific characteristics such as needs, preferences, or behaviors.