Which of the following is a strategy(ies) used by firms in monopolistically competitive industries to convince consumers that their product is better than its rivals' products?

Question

Quizplus · Accepted Answer

Comparative advertising is a strategy where a firm compares its product with its rivals' products to showcase the superiority of its product. Niche marketing is a strategy where a firm segments the market and targets a specific group of consumers with unique needs, preferences, and demands through marketing mix elements like product design, promotion, price, and distribution. Both strategies are commonly used by firms in monopolistically competitive industries to convince consumers that their product is better than its rivals' products. Hence, the best choice is D.

Which of the Following Is a Strategy(ies) Used by Firms