A firm seeks to differentiate its products from others so as to
A)motivate employees by producing a unique product.
B)maximize profits.
C)sell more than its competitors.
D)be proud of its product.
E)minimize production costs.

Question

Quizplus · Accepted Answer

Product differentiation is a marketing strategy that seeks to distinguish a company's products or services from those of its competitors. By creating unique products, a firm can increase its market share, charge higher prices, and build customer loyalty.

A Firm Seeks to Differentiate Its Products from Others So