What are the main differences between a low-cost strategy and a differentiation strategy?

*note*

Please provide simple answers, easy to understand, simple and straight to the point. Maybe 2 paragraphs.

What are the main differences between a low-cost strategy and a differentiation strategy?

Give an example of a company which follows a low cost strategy (not Wal-Mart).

Now give an example of a company which follows a differentiation strategy (not Target).

Explain why you chose these companies.

Is their strategy working for each of them? Why or why not?