Which strategy is designed to focus attention on product characteristics that are important to consumers and that distinguish the company's product from its competitors?

Question

Quizplus · Accepted Answer

Product differentiation is a strategy that aims to make a product more attractive and unique to consumers by emphasizing specific characteristics that set it apart from its competitors. By doing so, it can increase brand loyalty and customer acquisition. Segmentation is a strategy that involves dividing a market into smaller groups of consumers with similar needs or characteristics. Feature analysis involves the process of identifying and evaluating the specific features and functions of a product. Benchmarking involves comparing a company's products, services or processes with those of its competitors, while targeting focuses on selecting and prioritizing specific market segments to pursue. However, only product differentiation is designed to focus attention on product characteristics that distinguish the company's product from its competitors.

Which Strategy Is Designed to Focus Attention on Product Characteristics