The Strategy That Is Based on Providing Customers with Something

question 34

Multiple Choice

The strategy that is based on providing customers with something unique that makes the organization's product or service distinctive from its competition is referred to as:

• A) differentiation
• B) discount
• C) focused
• D) low-cost

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Definitions:

Psychographic Differences

Variations in consumers' lifestyle, values, and personality traits that affect buying behaviors and can be used for market segmentation.

Multicultural Marketing

Marketing strategies specifically designed to appeal to a variety of cultural groups within a society.

Value Consciousness

The degree to which consumers are focused on obtaining good value for their money when purchasing products or services.

Humility

A personal quality that involves a modest view of one's own importance and a respectful acknowledgment of the value of others.