Final answer:
The option that is not a hazard of pursuing a differentiation strategy is option (c), striving to create strong brand loyalty. It's a positive goal, whereas the other listed options can indeed pose risks to successfully differentiating a product in the market.
Step-by-step explanation:
In answering the question of which option is not one of the hazards of pursuing a differentiation strategy, it's important to identify actions that could be misguided or detrimental when trying to make a product or service stand out in the marketplace.
Option (a), charging too high a price premium for differentiating features, is indeed a hazard. If the premium is not justifiable by the perceived value, customers might turn to cheaper alternatives.
Option (b), over-differentiating such that the product's features exceed buyer needs, is also a hazard. Over-complicating a product can deter customers who might seek simpler solutions.
Option (d), differentiating with features that rivals can easily copy, represents a risk. Unique features that can be quickly replicated will not sustain a competitive advantage.
Option (c), however, is not a hazard. Striving to create strong brand loyalty is a positive goal for most businesses as it helps to maintain a competitive edge, increase customer retention, and possibly even command higher prices due to the brand's value.