Describe the differentiation strategy
What will be an ideal response?
Answer: One of the strategies for achieving a competitive advantage is the differentiation strategy. Managers pursuing a differentiation strategy seek to make their product or service different from those of competitors on dimensions their customers value. Achieving differentiation allows them to command a premium price. If managers can also keep costs at approximately the industry average, the premium price will allow the firm to earn above-average profits.
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Indicate whether the statement is true or false
Claiming a product is low-carb while displaying the waist line of a thin person is an example of an enhancement
Indicate whether the statement is true or false