Product differentiation is one of the four basic competitive strategies.

Question

Quizplus · Accepted Answer

Product differentiation is indeed one of the four basic competitive strategies, with the other three being overall cost leadership, focus strategy, and integrated low-cost/differentiation strategy. Product differentiation involves creating a unique and distinct product or service that sets a brand apart from competitors, and can be achieved through various means such as design, features, quality, branding, customer service, and innovation.

Product Differentiation Is One of the Four Basic Competitive Strategies