A strategy aims at securing a competitive advantage by serving buyers in the target market niche at a lower cost and lower price than rivals. Multiple choice question. focused low-cost overall low-cost resource-based cost best-cost

focused low-cost

Explanation:

Competitive advantage can be defined as conditions, factors or circumstances that allow a business firm (organization) to manufacture finished goods or services better and perhaps cheaper than other (rival) firms in the same industry. Thus, it's responsible for putting a business firm in a superior or more favorable position than rival firms.

This ultimately implies that, a competitive advantage has a significant impact on a business because it increases its level of sales, revenue generation and profit margin when compared to rival firms in the same industry.

A focused low-cost strategy is a strategic business model that's typically focused on a narrow or small customer base (segment) while providing low-cost goods and services to the customers. Thus, it is a business strategy that involves lowering the price of goods and services in order to generate more revenue and gain a competitive advantage over competitors or rivals in the same industry.

Hence, a focused low-cost strategy is typically aimed at securing a competitive advantage by means of serving buyers or consumers in the target market niche at a lower cost and lower price than rivals in the same industry.

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