When a firm attempting to create unique products or services for particular market niches,in order to achieve relatively high profit margins,this is best known as:
A) A quality strategy
B) A low-cost leadership strategy
C) A vertical integration strategy
D) A product differentiation strategy

Question

Quizplus · Accepted Answer

A product differentiation strategy involves creating unique products or services for specific market niches in order to achieve higher profit margins. This involves making the product or service stand out from competitors and offering added value to consumers.

When a Firm Attempting to Create Unique Products or Services