BUSINESS ADMINISTRATION
BUSINESS POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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North Face and Loblaws
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3M and Cirque du Soleil
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Lexus and President’s Choice
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BMW, Roots, and Holt Renfrew
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Detailed explanation-1: -Companies that follow a broad differentiation strategy apply the “prestige for masses” approach. Examples of such companies are BMW and Apple. These brands focus on developing innovative products for the broad market.
Detailed explanation-2: -BMW adopts differentiation strategy that gives unique qualities and valued by customers. In car manufacturing industry safety, style or efficiency can differentiate the competitors. BMW and Nissan are top in car market, and their ways are different for example, brand image and values.
Detailed explanation-3: -Differentiation focus strategy: This approach offers a specialized product to a specific market segment rather than the entire field. A luxury electric vehicle-if offering notable advantages in quality and functionality that justify the high prices-would be a type of differentiation focus strategy.
Detailed explanation-4: -What is a differentiation strategy? A differentiation strategy is an approach businesses develop by providing customers with something unique, different and distinct from items their competitors may offer in the marketplace.