Final answer:
The correct answer is Cost leadership. This strategy focuses on minimizing costs and operating efficiently in order to provide the lowest possible prices to customers, which can help a firm gain market share and attract more customers. Therefore, the correct option is 3.
Step-by-step explanation:
The correct answer is 3) Cost leadership. When the question mentions 'Total cost of ownership plus ______________ focuses the organization on creating value for customers of choice and optimal profit for the firm,' it is referring to a business strategy known as cost leadership. Cost leadership focuses on minimizing costs and operating very efficiently in order to provide the lowest possible prices to customers, which can help a firm gain market share and attract more customers.
By using cost leadership, firms can offer competitive prices and create value for their customers by providing affordable products or services. This strategy aims to optimize profit by reducing costs while still delivering quality products.