Which of the following represents a type of competitive strategy focused on minimizing costs?

The focus on minimizing costs as part of a competitive strategy is best represented by operational excellence. This strategy emphasizes the importance of streamlined operations, efficient production processes, and cost control measures. Companies that adopt operational excellence aim to deliver their products or services at the lowest possible cost while maintaining acceptable quality levels. This allows them to either pass those savings on to customers in the form of lower prices or to retain a larger portion of their revenues as profit.

In contrast, product/service leadership centers on providing superior products or services that stand out in the marketplace, often justifying higher prices. Customer intimacy focuses on building strong relationships with customers to better meet their needs, which may involve additional costs for personalized services. Market innovation revolves around creating new and unique offerings that can also lead to higher expenses, especially in research and development. Therefore, operational excellence distinctly aligns with the goal of minimizing costs as a competitive strategy.