According to Michael Porter’s Generic Competitive Strategies, a firm that seeks a competitive advantage by having the lowest operating costs in its industry pursues a strategy of:

Explanation

* Cost Leadership aims to become the overall low-cost producer across a broad market, enabling competitive pricing or higher margins.
* Differentiation seeks unique value positioning; Focus strategies target narrow market niches through cost or differentiation advantages.
* Walmart and Ryanair are classic commercial examples of broad Cost Leadership strategies.