Which of the following strategies involves an attempt to distinguish the firm's products or services from others in the industry?
A) Cost leadership
B) Differentiation
C) Focus
D) Internal growth
E) Liquidation

Question

Quizplus · Accepted Answer

The strategy that involves distinguishing the firm's products or services from others in the industry is differentiation. This strategy involves creating unique features or benefits that set the company's products or services apart from its competitors. This can create a perception of value in the minds of customers, which may allow the firm to charge premium prices. Cost leadership (A) focuses on reducing costs to offer products or services at a lower price than competitors. Focus (C) involves targeting a narrow market segment with specialized products or services. Internal growth (D) involves expanding the company's operations through increased sales or the development of new products or services. Liquidation (E) involves selling off a company's assets to pay off its debts and dissolve the business.

Which of the Following Strategies Involves an Attempt to Distinguish