A differentiated product is one that:
A) is slightly different from the competitor's product, although it is a close substitute.
B) is very different.
C) is traded within firms and is not for sale in retail markets.
D) has a shelf life of less than a year.

Question

Quizplus · Accepted Answer

A differentiated product is one that is slightly different from the competitor's product, although it is a close substitute. This means that the product has some unique features, characteristics, or qualities that make it stand out from similar products in the market. These differences are often perceived as valuable by consumers, which allows companies to charge a premium price for their product.

A Differentiated Product Is One That