When a business advertises that its product has unique features that make it superior to other similar products,it is engaging in
A)Price competition.
B)Predatory pricing.
C)Product differentiation.
D)Contestable market advertising.

Question

Quizplus · Accepted Answer

Product differentiation is the strategy of highlighting unique features or benefits of a product to make it stand out from other similar products. It can help a business attract customers who are looking for something different or better than what is currently available in the market. Price competition and predatory pricing focus on price as a primary selling point, while contestable market advertising is used in industries where there is little competition and firms are able to maintain a monopoly over the market.

When a Business Advertises That Its Product Has Unique Features