One of Porter's generic business strategies that require a product to have significant points of difference to charge a higher price while targeting a broad array of market segments is referred to as a __________.

Question

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The strategy described in the question is the differentiation strategy, which involves creating a unique product or service that is valued by customers and can command a higher price than competitors. This strategy targets a broad range of market segments, but relies on the product's unique features to differentiate it from competitors.

One of Porter's Generic Business Strategies That Require a Product