___________refers to the competitive advantage that a company can achieve by persuading customers that its product or service is better than its competitors'.
A)Product segmentation
B)Product differentiation
C)Product validation
D)Product specification

Question

Quizplus · Accepted Answer

Product differentiation is the competitive advantage that companies can achieve by highlighting the unique features or qualities of their product or service to convince customers that it is superior to their competitors'. This helps in creating brand recognition and loyalty among customers and gives companies an edge over their competition. Product segmentation refers to dividing the market into subgroups of customers who have different needs or preferences, while product validation and product specification relate to quality control and standardization processes of the product.

___________Refers to the Competitive Advantage That a Company Can Achieve