Question

When organizations endeavor (1) to keep their costs (and hence the prices of their products or services) below those of competitors and (2) to target a wide market, they are utilizing a ________ strategy.

Answer 1

Cost-leadership

Step-by-step explanation:

When companies increase efficiencies and reduce production costs below their competitors in order to gain market share offering more affordable prices. Basically, the cost focus also seeks a cost advantage, but in focus strategies, a narrow market is chosen. So the answer will be cost-leadership respectively.