Home Smart Inc.is a chain of supermarkets that sells its products at higher prices than its competitors.Yet, the supermarket chain has a large customer base due to its wide product portfolio and superior customer service.Which of the following generic business strategies has Home Smart adopted in this scenario?

Question

Quizplus · Accepted Answer

Home Smart has adopted the differentiation strategy. A differentiation strategy seeks to create higher value for customers than the value that competitors create, by delivering products or services with unique features while keeping costs at the same or similar levels.