A company attempting to be successful with a broad differentiation strategy has to:
A) study buyer needs and behavior carefully to learn what buyers consider important,what they think has value,and what they are willing to pay for.
B) incorporate more differentiating features into its product/service than rivals.
C) concentrate its differentiating efforts on marketing and advertising (where almost all differentiating features are created).
D) have a widely known and highly respected brand name image.
E) provide a top-of-the-line product and sell it at premium prices.

Question

Quizplus · Accepted Answer

To be successful with a broad differentiation strategy, a company needs to study buyer needs and behavior carefully to understand what they consider important and are willing to pay for. This information will help the company to incorporate the right features and offerings that differentiate it from its competitors and add value to its customers. Simply adding more features or focusing on marketing and advertising without understanding customer needs may not lead to success. A widely known brand name and premium pricing can be a part of the strategy, but they are not the only factors that drive success.

A Company Attempting to Be Successful with a Broad Differentiation