Cost leadership is one strategy where a company is the most competitively priced product on the market, meaning it is the cheapest. You see examples of cost leadership as a strategic marketing priority in many big corporations such as Walmart, McDonald's and Southwest Airlines.
Differentiation focus strategy is a hybrid of focus strategy and differentiation strategy. With focus strategy, a company chooses a small segment of the industry to focus its marketing efforts on. The advantage here is that there is less competition and, therefore, greater pricing flexibility.
Being a low-cost provider is a basic business strategy. It is the straightforward strategy of selling at a lower price than your competitors. But even such a basic strategy comes in two different types -- the low-cost-provider strategy and the focus low-cost strategy. These two strategies are appropriate for differently sized businesses.