Question at position 13 Greenbaum Tech has entered the smart phone market and introduced 3D imaging and other enhanced video features that competitors can't offer. Because of this special feature, they are able to charge consumers more for their phones. Greenbaum Tech is most likely employing a Question Blank 1 of 1[input] strategy.

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BlackTom AI · Accepted Answer

The question describes a company entering the smartphone market with unique features (3D imaging and enhanced video) that competitors cannot offer, enabling the company to command higher prices. This situation aligns with pursuing a differentiation strategy, where a firm seeks to distinguish its product through unique attributes, quality, or features to attract a segment of customers willing to pay a premium.

If we compare common strategic options:
- A differentiation strategy focuses on creating uniqueness and value that customers perceive as superior, justifying higher prices.
- A cost leadership strategy would aim to minimize production costs to offer the lowest price, which contrasts with charging more for premium features.
- A focus (niche) strategy concentrates on a narrow market segment, either through differentiation within that segment or cost advantages, rather than broad premium differentiation.
- An integrated or hybrid approach could combine elements of differentiation and cost advantages, but the core driver in the scenario is adding distinctive features to justify higher pricing, which is classic differentiation.

Therefore, the described approach exemplifies differentiation strategy, where distinct product attributes enable premium pricing and competitive advantage based on perceived uniqueness rather than solely on price competition.

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