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 unique aspects of a firm's products or services that are important to buyers, allowing the firm to stand out in the industry. This can lead to increased customer loyalty and the ability to charge a premium price.

When a Firm Seeks to Identify Itself as Unique in Its