Strategy 1: Low-Cost Provider
Definition: Striving to achieve costs than rivals and appealing to a broad spectrum of customers, usually by under pricing rivals.
Strategy 2: Broad Differentiation
Definition: Seeking to differentiate the company's product offering from rivals' in ways that will appeal to a broad spectrum of buyers.
Strategy 3: Focused Low-Cost
Definition: Concentrating on a narrow buyer segment and outcompeting rivals by having lower costs than rivals and thus being able to serve niche members at a lower price.
Explain all of the above.