Which of the following best defines 'Cost Cap' as a bidding strategy?

'Cost Cap' as a bidding strategy is best defined by maintaining average costs per result at or below a specified bid. This strategy enables advertisers to control their costs effectively while still achieving desired outcomes. With a cost cap, the system optimizes the ad delivery to ensure that the average cost per result, which could be defined as conversions, clicks, or other desired actions, does not exceed the bid amount set by the advertiser.

This approach is particularly beneficial for advertisers who want to ensure that they don't overspend while trying to reach their performance goals. By setting a cost cap, advertisers can remain competitive in the bidding environment without sacrificing control over their budget. This contrasts with other strategies that might focus on maximizing spend or achieving specific ad performance outcomes irrespective of cost efficiency.