Differentiation

question 127

Multiple Choice

Differentiation

• A) helps a firm get a competitive advantage if it just meets needs in the same way as other firms.
• B) means that the marketing mix is similar to what is available from a competitor.
• C) often requires that the firm fine-tune all of the elements of its marketing mix to the specific needs of a distinctive target market.
• D) is less obvious to target customers when there is a consistent theme integrated across the four Ps decision areas.
• E) can only be based on one important element of the marketing mix.

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Definitions:

Trademark

A symbol, word, or words legally registered or established by use as representing a company or product.

Goodwill

An intangible asset that arises when a buyer acquires an existing business, representing the value of the business's brand, customer base, and other non-physical assets.

Land Improvements

Upgrades made to land such as landscaping, irrigation systems, and construction of pathways that enhance its value and utility.

Buildings

Structures constructed on land that serve various purposes, such as commercial, residential, or industrial activities, often considered as long-term assets in financial accounting.