The more unique a product offering is perceived to be by consumers, the less the freedom of the firm to set prices above those of its competitors.

Name: The more unique a product offering is perceived to be by consumers, the less the freedom of the firm to set prices above those of its competitors.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A more unique product offering typically allows a firm greater freedom to set higher prices, as the product differentiation reduces direct competition and increases the value perceived by consumers.

The More Unique a Product Offering Is Perceived to Be