Five of the most frequently used and dependable strategic approaches to setting a company apart, building strong customer loyalty and gaining a compe33ve advantage are: 1. A low-cost provider strategy a. Achieving a cost-based advantage over rivals 2. A broad diEeren3a3on strategy a. Seeking to diEerenBate the company's product or service from that of rivals in ways that will appeal to a broad spectrum of buyers 3. A focused low-cost strategy a. Concentraing on a narrow buyer segment and outcompeing rivals by having lower costs and thus being able to serve niche members at a lower price