The ____ strategy aims at selling a standardized product that appeals to the "average" customer in a broad market.

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The low-cost strategy aims at reducing production and distribution costs, resulting in selling products or services at lower prices than competitors while maintaining acceptable quality levels. This approach targets a broad market by making the product affordable to the average customer, who tends to be price-sensitive rather than quality or brand loyal. In contrast, the focused strategy targets a narrow segment of customers with specific needs and preferences, while the differentiation strategy focuses on creating unique and valuable products or services that justify higher prices. The focused differentiation strategy combines both approaches by serving a select group of customers with differentiated offerings.

The ____ Strategy Aims at Selling a Standardized Product That