Apple's iPhone has a feature known as Apple Pay that lets you use your phone to pay for credit purchases, meaning you could leave your wallet at home. This feature sets the smartphone apart from its competitors and is part of Apple's ___________ strategy.
A)product segmentation
B)market expansion
C)product differentiation
D)usage segmentation
E)psychographic segmentation

Question

Quizplus · Accepted Answer

Product differentiation is a strategy that sets a company's products apart from its competitors by highlighting unique features or benefits. Apple Pay is a unique feature that differentiates the iPhone from other smartphones, making it a product differentiation strategy. Product segmentation is a strategy to divide a market into distinct groups of customers with different needs, wants or characteristics. Market expansion involves expanding a company's customer base by entering new markets or offering new products. Usage segmentation segments customers based on how they use the product. Psychographic segmentation segments customers based on their lifestyle, values, and personality.

Apple's IPhone Has a Feature Known as Apple Pay That