Which of the Following Statements Best Define a Product Differentiation

question 143

Multiple Choice

Which of the following statements best define a product differentiation strategy?

• A) It describes how an organization can increase customer base by differentiating its' product prices from its competitors.
• B) It is an organization's ability to achieve lower costs relative to competitors through productivity and efficiency improvements, elimination of waste, and tight cost control.
• C) It describes how an organization can decrease product prices by differentiating its' raw materials from its competitors.
• D) It is an organization's ability to offer products or services its customers perceive to be superior and unique relative to the products or services of its competitors.

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Definitions:

Individualistic Cultures

Societies that emphasize personal achievements and rights, prioritizing individual liberty and independence over collective goals.

Industrialised Cultures

Cultures that have experienced significant development in technology, industrial production, and economic growth, impacting societal norms and lifestyles.

Interdependent

Mutually reliant on each other; describes a condition where two or more entities depend on each other for support or existence.

Face-To-Face

A form of communication that occurs when individuals interact directly with each other, rather than through any mediating technology.