Offering consumers greater value either through lower prices or by providing more benefits that justify higher prices, is called:
A) Smart marketing
B) Effective market positioning
C) Bifurcation marketing
D) Competitive advantage

Question

Quizplus · Accepted Answer

Offering consumers greater value either through lower prices or by providing more benefits that justify higher prices is known as creating a competitive advantage. It means that a company differentiates itself from its competitors by emphasizing its unique strengths, which can be its price, product features, quality, or any other factor that sets it apart from the rest. By doing so, the company can attract and retain customers, increase market share, and ultimately, enhance its profitability.

Offering Consumers Greater Value Either Through Lower Prices or by Providing