When a firm attempting to create unique products or services for particular market niches,in order to achieve relatively high profit margins,this is best known as
A) a quality strategy
B) a low-cost leadership strategy
C) a vertical integration strategy
D) a product differentiation strategy

Question

Quizplus · Accepted Answer

A product differentiation strategy is about creating unique products or services for particular market niches in order to achieve relatively high profit margins. This strategy involves investing in research and development and marketing efforts to differentiate a firm's products from its competitors in the market. By offering differentiated products, the firm can charge a premium price and enjoy higher profit margins.

When a Firm Attempting to Create Unique Products or Services