Both the way a product is differentiated from other products of its type and the price of the product determine which product a customer chooses to satisfy his or her needs.

Question

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Both differentiation and price are important factors in a customer's decision-making process when choosing a product to satisfy their needs. A product that is unique and stands out from its competitors may command a higher price, while a product that is cheaper may be more appealing to price-sensitive customers, even if it is not as differentiated. Therefore, both differentiation and price are factors in determining which product a customer chooses.

Both the Way a Product Is Differentiated from Other Products