Questions
ODL-Business Environment and Strategic Planning Complete Quiz
Single choice
Product differentiation refers to the?
Options
A.a. Response of incumbent firms to new entrants
B.b. Fact that as more of a product is produced the cheaper it becomes per unit
C.c. Ability of the buyers of a product to negotiate a lower price
D.d. Belief by customers that a product is unique
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Step-by-Step Analysis
To start, let's consider what 'product differentiation' means in the context of competitive strategy.
Option a: 'Response of incumbent firms to new entrants' describes strategic maneuvering or competitive reaction, not the concept of differentiating a product itself. It focuses on industry dynamics rather than h......Login to view full explanationLog in for full answers
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