Question

What factors enhance responsiveness and allow a company to differentiate itself? Upon differentiation, what can a company then do?

Options:
a) Customer Feedback and Automation
b) Quality Control and Outsourcing
c) Branding and Social Media Presence
d) Employee Morale and Environmental Sustainability

Answer 1

Differentiation and its factors enhance responsiveness and allow a company to stand out. A company can then charge higher prices, gain a competitive advantage, and build customer loyalty.

Step-by-step explanation:

Differentiation is the process of making a company's products or services unique in the market. There are several factors that can enhance responsiveness and allow a company to differentiate itself:

1. Branding: Developing a strong brand identity can differentiate a company from its competitors. A well-known brand can create a positive perception and attract loyal customers.
2. Social Media Presence: Utilizing social media platforms can enhance responsiveness by allowing companies to directly engage with customers, gather feedback, and address their concerns.
3. Employee Morale: A satisfied and motivated workforce can provide excellent customer service and contribute to a positive company image.

Once a company has successfully differentiated itself, it can:

1. Charge higher prices for its unique products or services.
2. Gain a competitive advantage and attract a larger customer base.
3. Establish customer loyalty and build long-term relationships.