Question

All of the following are examples of differentiated products EXCEPT

a. Toyota's Lexus.
b. Caterpillar's heavy duty earth moving equipment.
c. store brand beef and pork.
d. McKinsey & Company.

Answer 1

Differentiated products are products that have unique features that set them apart from competitors. Examples include Toyota's Lexus, Caterpillar's heavy-duty equipment, and store brand beef and pork.

Step-by-step explanation:

Differentiated products are those that have distinguishing features or characteristics that set them apart from competitors. Examples of differentiated products include:

1. Toyota's Lexus: Lexus is a luxury brand owned by Toyota that offers high-quality and premium vehicles, targeting customers who are seeking luxury and comfort.
2. Caterpillar's heavy-duty earth moving equipment: Caterpillar is known for manufacturing heavy-duty and durable construction equipment that is designed to handle tough jobs and provide superior performance.
3. Store brand beef and pork: Store brands are typically less expensive than national brands but still meet certain quality standards. These products are differentiated by their pricing, packaging, and quality.

McKinsey & Company is not an example of a differentiated product as it is a consulting firm that provides professional services rather than physical products.