The ability to engage in product differentiation is one of the factors a manager or owner of a firm can control in order to create value for consumers.

Question

Quizplus · Accepted Answer

Product differentiation refers to the process of distinguishing a product from similar products in the market. By doing this, a firm can create value for consumers by providing unique features or benefits that competitors do not offer. As a result, the ability to engage in product differentiation is within the control of a manager or owner of a firm.

The Ability to Engage in Product Differentiation Is One of the Factors