Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which of the following best describes differentiation strategy?
Which of the following best describes differentiation strategy?
- A strategy that focuses on targeting a specific niche market
- A strategy that focuses on reducing costs to gain a competitive advantage
- A strategy that involves offering unique features or benefits to customers (correct)
- A strategy that aims to increase market share through aggressive pricing
What is the main goal of differentiation strategy?
What is the main goal of differentiation strategy?
- To offer unique value that sets the organization apart (correct)
- To reduce costs and gain a competitive advantage
- To increase market share through aggressive pricing
- To target a specific niche market
How does a customer perceive differentiation strategy?
How does a customer perceive differentiation strategy?
- As a strategy to target a specific niche market
- As a way to gain market share through aggressive pricing
- As a way to reduce costs and increase efficiency
- As a strategy to offer unique value and benefits (correct)
Flashcards are hidden until you start studying
Study Notes
Differentiation Strategy
- A differentiation strategy is a business approach that sets a company apart from its competitors by creating a unique image, product, or service in the minds of potential customers.
- The main goal of a differentiation strategy is to create a unique selling proposition (USP) that makes a product or service more attractive to customers than those offered by competitors.
Customer Perception
- A customer perceives a differentiation strategy as a unique benefit or advantage that a company's product or service offers relative to its competitors.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
