What Does Product Differentiation Mean

question 38

Multiple Choice

What does product differentiation mean?

• A)It is the attempt by the firm to offer a product similar to that of its rivals.
• B)It is the attempt by the firm to offer a product seen to be different from that of its rivals.
• C)It is the practice of many firms to sell more than one product.
• D)It is the practice of many firms to sell the same product in more than one market.

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Definitions:

Gasoline Fraction

A specific range of hydrocarbons derived from petroleum refining used primarily as fuel in internal combustion engines.

Crude Oil Refinement

The industrial process of converting crude oil into useful petroleum products such as gasoline, diesel, and jet fuels.

Kerosene

A flammable hydrocarbon liquid commonly used as a fuel in heating, jet engines, and lighting, extracted from petroleum.

Jet Fuel

A type of aviation fuel designed for use in aircraft powered by gas-turbine engines.