A strategy whereby companies attempt to gain competitive advantage by offering value that is not available in other products or services is known as __________.
A)product depreciation
B)mass customization
C)product differentiation
D)service dissemination

Question

Quizplus · Accepted Answer

Product differentiation is the strategy where companies offer unique value to their products or services, making them stand out from competitors, and attract customers. It involves creating a unique product design, superior quality, exceptional features, or providing top-notch customer service experience, which customers highly appreciate and are willing to pay a premium price for. This strategy helps companies to achieve a competitive edge and differentiate themselves from their competitors by creating an attractive value proposition for their customers.

A Strategy Whereby Companies Attempt to Gain Competitive Advantage by Offering