GENERAL KNOWLEDGE

GK

BUSINESS MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which business strategy am I? Providing unique products and services in ways that are widely valued by buyers (i.e. high quality, extraordinary service, innovative designs, etc).
A
Focus
B
Differentiation
C
Analyzer
D
Prospector
Explanation: 

Detailed explanation-1: -Differentiation strategy is a strategy in which an organization seeks to distinguish itself from competitors through the quality of its products or services [31]. According to Porter [30], if product or service is unique, this strategy provides high customer loyalty.

Detailed explanation-2: -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. The main objective of implementing a differentiation strategy is to increase competitive advantage.

Detailed explanation-3: -Product differentiation is a strategy used by businesses to highlight the unique features and benefits of its product or service to separate it from competitors. The marketing team communicates these unique qualities through their campaigns and promotions.

Detailed explanation-4: -(2) Differentiation Strategy The focus is on creating a distinct value proposition for customers through product innovation, high-quality customer service, or other exclusive features.

There is 1 question to complete.