Product differentiation allows companies to become more of a price-setter, and less of a price-taker.

Name: Product differentiation allows companies to become more of a price-setter, and less of a price-taker.
Brand: Quizplus
Rating: 4.8 (41 reviews)

Question

Quizplus · Accepted Answer

Product differentiation allows companies to offer unique features or benefits that distinguish their products from those of their competitors. This allows them to charge higher prices and become less sensitive to price competition, making them more of a price-setter in the market.

Product Differentiation Allows Companies to Become More of a Price-Setter