Question

________differentiation is a business strategy whereby firms attempt to gain a competitive advantage by increasing the perceived value of their products and services relative to the perceived value of other firms' products or services.

A.Product differentiation
B.Related diversification
C.Cost leadership
D.Best-cost provider

Answer 1

A) Product Differentiation

Step-by-step explanation:

Product differentiation is referred as a strategy which companies or firms use to showcase the abilities which their products have and the competing product does not have. Some go as far as displaying an added advantage which their products have. Forms which this strategy can take may be through price of the product, reliability of the product or location of the product.