Differentiation is defined as:
A)A strategy where a firm provides a product perceived as unique and valuable by customers, other than a low price
B)Offering a low price based on a low cost
C)A strategy where a firm offers a large range of products to cover all the segments of the market
D)The opposite of cost leadership: having costs as high as possible while still managing to break even or make a profit

Question

Quizplus · Accepted Answer

Differentiation is a strategy where a firm provides a product perceived as unique and valuable by customers, other than a low price. It focuses on creating a unique product or service that sets the firm apart from its competitors, which allows it to charge a higher price and enjoy a competitive advantage.

Differentiation Is Defined As