Developing a product or service that has unique characteristics valued by customers is characteristic of a __________.
A) differentiation strategy
B) cost leadership strategy
C) specialization strategy
D) evaluation strategy

Question

Quizplus · Accepted Answer

Developing a product or service with unique characteristics valued by customers is the essence of differentiation strategy, which focuses on creating a unique position in the market that is different from competitors by offering something different that meets the needs and desires of a specific customer segment. Cost leadership strategy involves focusing on producing goods or services at the lowest cost possible to gain a competitive advantage, while specialization strategy entails focusing on meeting the needs of a specific customer group or market niche. Evaluation strategy is not a recognized strategy in business.

Developing a Product or Service That Has Unique Characteristics Valued