One way by which firms differentiate their products is to try to anticipate changes in consumer tastes and adapt their products to fit those changed tastes.

Question

Quizplus · Accepted Answer

This statement is true. Firms try to differentiate their products by keeping an eye on changing consumer preferences and modify their product accordingly to meet those preferences. This helps them gain a competitive advantage in the market.

One Way by Which Firms Differentiate Their Products Is to Try