Asked by speedy harris on May 27, 2024
Verified
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
Distinctive Competition
Is the unique competitive edge or positioning that sets an entity apart from its competitors in the marketplace.
Unique
Being the only one of its kind; without equal or equivalent in characteristic or importance.
- Grasp the essential principles of business strategy: cost reduction, distinguishing features, and targeted market focus.
Verified Answer
KA
Kwabena AsareMay 29, 2024
Final Answer :
A
Explanation :
The strategy of differentiation is focused on offering unique features or characteristics that distinguish an organization's product or service from its competitors. This can be achieved through product design, quality, customer service, or other means. By standing out from the competition, the organization can attract customers who are looking for something different or better, and potentially command a premium price for its offering. The other options - discount, focused, and low-cost - are not strategies based on providing unique value, but rather involve competing on price or targeting specific market segments.
Learning Objectives
- Grasp the essential principles of business strategy: cost reduction, distinguishing features, and targeted market focus.
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