Broad differentiation strategies generally work best in market circumstances where: Select one: a. Buyer needs and preferences are too diverse to be fully satisfied by a standardized product b. Most buyers have similar needs and use the product in the same way c. Buyers are price sensitive d. The costs of a buyer switching to another product are low
A. buyer needs and preferences are too diverse to be satisfied by standardized product
A broad differentiation strategy can be employed by a company when they want to differentiate products or services that appeal to a large number of buyers. They are adopted to be unique by the company.
This strategy tends to make a companies product different from the similar products of competitors. A product can be differentiated by the form, size, shape etc. And also the performance quality of a production can be used to differentiate.
The ultimate goal of this strategy is to archive a competitive advantage when they offer unique product to their customers.
a. Buyer needs and preferences are too diverse to be fully satisfied by a standardized product
Broad differentiated strategies are strategies employed by a company in a competitive market, which involves the production of a similar product produced by other competitors, but is produced in such a way that it is unique and distinct from other similar products in the market. This helps the company to distinguish it's products from the rest as it gains a competitive advantage over other competitors in the market.
Broad differentiated strategy is usually effective in a competitive market that has a broad range of customer preferences, in order words, it would work best in market situations where the needs and preferences of buyers are too diverse to be fully satisfied by a standardized product.
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answerboth the short run phillips curve and the aggregate demand and aggregate supply model