The strategy that is based on an organization's ability to provide a product or service at a lower cost than its rivals is referred to as:

A) discount
B) differentiation
C) low-cost
D) focused

The strategy that is based on offering products or services at a lower cost than its rivals is known as a low-cost strategy. This can be achieved by implementing cost-cutting measures in the value chain, such as optimizing production processes or negotiating lower supplier costs. By providing the same or similar products at a lower price, a company can gain a competitive advantage and appeal to price-sensitive consumers. This approach is different from differentiation, which is based on creating unique products or services that stand out from the competition.