CostLeadershipStrategyisabusinessapproachwhereacompanyaimstobecomethelowest-costproducerinitsindustry.Byminimizingcoststhroughefficientoperations,economiesofscale,andtightcostcontrols,thecompanycanofferproductsorservicesatlowerpricesthancompetitors.Thisstrategyallowsthefirmtoattractprice-sensitivecustomers,gainmarketshare,andmaintainprofitabilityevenincompetitivemarkets.CompanieslikeWalmartandSouthwestAirlinesarewell-knownexamplesofsuccessfulcostleadershipstrategies.Thekeychallengeismaintainingcostadvantageswithoutsacrificingqualityorcustomersatisfaction.
