Question:
Differentiation
Author: JUAN LOUIS SANTO DOMINGOAnswer:
Strategy that aims to distinguish a product/service from other similar products in the market. Differentiation strategy is most applicable when: - There are many ways to differentiate the product or service and many buyers perceive these differences as having value. - The buyer’s needs and uses are diverse. Few rival firms are following a similar differentiation approach. - Technological change is fast paced and competition revolves around rapidly evolving product features.
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