When a firm seeks to identify itself as unique in its industry in an area that is important to buyers, it is known as a
A) defensive strategy.
B) differentiation strategy.
C) low-cost strategy.
D) focused strategy.
E) value strategy.

Question

Quizplus · Accepted Answer

A differentiation strategy involves identifying and promoting unique aspects of a firm's products or services that are important to buyers, such as quality, design, technology, or customer service. This allows the firm to stand out from competitors and charge a premium price. Defensive, low-cost, focused, and value strategies are different approaches to gaining competitive advantage in the market.

When a Firm Seeks to Identify Itself as Unique in Its