Three Major Ways in Which Marketers Engage in Product Differentiation

question 16

Multiple Choice

Three major ways in which marketers engage in product differentiation are

• A) product quality, product design and features, and product support services.
• B) product quality, product support services, and packaging.
• C) product support services, product design and features, and product positioning.
• D) product positioning, product quality, and product management.
• E) product positioning, product design and features, and product promotion.

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Definitions:

Specialize

The process of focusing efforts and resources on a narrow area of expertise to increase efficiency and proficiency.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors.

Benefit From Trade

The advantage gained by countries, entities, or individuals from engaging in international trade, often including access to a wider variety of goods and services.

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors using the same amount of resources.