Question #1Firms that charge relatively low prices and offer substantial differentiation are following a best-cost strategy. A best cost strategy can be an effective level strategy to the extent that a firm whose fixed costs and overhead are very low relative to the competition. • What is an example of an industry where you think a best-cost strategy could be successful?• How would you differentiate a company to achieve this success in this industry? • Provide an example of a firm in Jacksonville that is following a best cost strategy? Explain. • What is best cost strategy advantages and disadvantages?