A firm that is always working to improve its product offerings such that consumer needs are addressed more efficiently is following a differentiation strategy.

Question

Quizplus · Accepted Answer

This statement is true. A differentiation strategy focuses on offering unique or superior products or services that effectively address the needs and preferences of consumers. Continuous improvement and innovation are key components of this strategy in order to maintain a competitive advantage in the market.

A Firm That Is Always Working to Improve Its Product