What is the focus of a “Cost Leader” strategy in Porter's generic strategies?

The focus of a "Cost Leader" strategy in Porter's generic strategies is on delivering the lowest cost products in a broad market. This approach aims to gain a competitive advantage by being able to offer products at lower prices than competitors while still maintaining acceptable levels of quality. Companies that successfully implement a cost leadership strategy achieve economies of scale, optimize their production processes, and minimize their operational costs, allowing them to attract a larger customer base. This strategy is attractive to price-sensitive consumers who prioritize cost over additional features or premium quality.

The alternative strategies mentioned, such as providing high-quality products at high prices or niche products for a narrow market, do not align with the cost leadership focus, as they either emphasize differentiation or target a limited segment rather than the broad market. Additionally, offering high-cost products for a specialized market represents a completely different strategic approach focused on uniqueness and higher pricing rather than cost efficiency and widespread appeal.