According to Michael Porter's competitive strategies framework,which of the following strategies seeks to offer unique products to a broad customer market?
A)cost leadership
B)differentiation
C)focus
D)diversification

Question

Quizplus · Accepted Answer

The differentiation strategy seeks to offer products or services that are perceived as unique by customers and are not readily available elsewhere. This strategy allows firms to charge a premium price and can lead to increased customer loyalty. It is aimed at a broad customer market, rather than a narrow niche, as in the focus strategy. Cost leadership is a strategy aimed at achieving the lowest cost of production within an industry, and diversification involves expanding into new businesses or product lines.

According to Michael Porter's Competitive Strategies Framework,which of the Following