4.3.2 Operational excellence
Companies that pursue this [value discipline] are not primarily product or service innovators, nor do they cultivate a deep one-to-one relationship with their customers. Instead, operationally excellent companies provide middle-of-the-market products at the best price with the least inconvenience. Their proposition to customers is simple: low price and hassle-free service.
(Treacy and Wiersema, 1996)
This is sometimes called the no-frills approach.