Ryanair, Wal-Mart, Timex, Casio and Hyundai are all cited as examples of firms pursing cost leadership strategies, but these firms make substantial investments in advertising, which seems more likely to be associated with a product differentiation strategy. Are these firms really pursing a cost leadership strategy, or are they pursuing a product differentiation strategy by emphasizing their lower costs?
Also, difference between cost leadership strategy and product differentiation strategy?