a differentiation based competitive advantage
A pitfall to avoid when pursing a differentiation strategy is. trying to differentiate on the basis of attributes or features that are easily copied. What sets focused (or market niche) strategies apart from low cost leadership and broad differentiation strategy a is. Their concentrated attention on serving the needs of buyers is a narrow piece of the overall market. A focused low cost strategy can lead to attractive competitive advantage when. Unformatted text preview: 35. Achieving a differentiation-based competitive advantage can involve A. incorporating product attributes and user features that lower a buyer's overall cost of using the product. B. incorporating features that raise the performance a buyer gets from using the product. Product differentiation. In economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others, to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as a firm's own products. Competitive advantage is a set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition. They are cost, product/service differentiation, and niche strategies. competitive differentiation. Competitive differentiation is a strategic positioning tactic an organization can undertake to set its products, services and brands apart from those of its competitors. Download 9 FREE Strategic Planning Templates that your Peers Already Use. -- Michael Porter, Competitive Advantage, 1985, p.3. The figure below defines the choices of generic strategy a firm can follow. A firm's relative position within an industry is given by its choice of competitive advantage (cost leadership vs. differentiation) and its choice of competitive scope. Competitive scope distinguishes between firms targeting broad industry segments and firms focusing on a narrow segment. Product/Service Differentiation. Another way that companies can have a competitive advantage in the marketplace is through product/service differentiation. If a company's product or service has a valuable, unique offering for its consumers, then loyalty and product/service differentiation can occur. View Full Document. Quiz 5 1. A company attempting to be successful with a broad differentiation strategy has to A. Study buyer needs and behavior carefully to learn what buyers consider important, what they think has value, and what they are willing to pay for. Question: Which of the following set of actions are unlikely... which of the following set of actions are unlikely to help a company achieve a differentiation based competitive advantage over some/many of its camera rivals when it comes to assembling and marketing multi-featured camera? Expert Answer. home / study / business / finance / questions and answers / Which Of The Following Set Of Actions Are Unlikely ... which of the following set of actions are unlikely to help a company achieve a differentiation based competitive advantage over some/many of its camera rivals when it comes to assembling and marketing multi-featured camera?
A. incorporating product attributes and user features that lower a buyer's overall cost of using the product.
B. incorporating features that raise the performance a buyer gets from using the product.