Answer this question fully, in short answer format.

Describe a company that employs a cost-cutting strategy. How does the company's cost-cutting strategy help it compete?

In Chapter 4, we will learn how businesses can successfully use a cost advantage strategy. I want you to find and describe a company that successfully uses a cost advantage strategy based on the knowledge you gained after reading this question. After that, I'd like you to describe how that company can use its cost advantage strategy against their competitors to their advantage.

For example, Walmart is well-known for its low prices, particularly when compared to competitors. Amazon, which is also known for its low prices, is one of their competitors. However, Amazon only has lower prices on certain items, whereas Walmart has lower prices overall. Walmart is able to satisfy consumer needs by keeping prices low, making them a more likely place to shop than Amazon in some cases. This clearly gives Walmart an advantage over competitors such as Amazon.