Question

The principle that states the firm should offer customers something they value enough to pay for, but are unable to get elsewhere, is _______________.

Question options:

a) The Principle of Differential Advantage

b) The Principle of Customer Value

c) The Principle of Selectivity and Concentration

d) The Principle of Integration

Answer 1

The principle that states the firm should offer customers something they value enough to pay for, but are unable to get elsewhere, is The Principle of Differential Advantage.

Step-by-step explanation:

The principle that states the firm should offer customers something they value enough to pay for, but are unable to get elsewhere, is The Principle of Differential Advantage.

A firm can try to make its products different from those of its competitors by focusing on physical aspects of the product, location from which it sells the product, intangible aspects of the product, and perceptions of the product. These distinctive products are called differentiated products.

By offering unique and valuable products, a firm can gain an advantage over its competitors and attract customers who are willing to pay for these differentiated products.