Question

We define differentiation as: Group of answer choices Dividing a market into different age and life-cycle groups. Tailoring products and marketing programs to the needs and preferences of individual customers; also labeled one-to-one marketing, customized marketing, and markets-of-one marketing. Differentiating the market offering to create superior customer value. A set of buyers sharing common needs or characteristics that the company decides to serve.

Answer 1

Answer:

Differentiating the market offering to create superior customer value.

Explanation:

Products and services are generally either similar to the competition or differentiated from the competition. For example, most of the food that we buy is generally similar to each other, an apple is similar to another apple, but the restaurant business (providing already prepared food) is extremely differentiated since every restaurant offers different meals at different prices.

The two main marketing strategies are cost strategies (selling products at lowest possible cost) or differentiation strategies (selling different or innovative products).  

Answer 2

Answer:

Option C Differentiating the market offering to create superior customer value

Explanation:

The reason is that when the product are differentiated from the rest of the products in the market, it creates a sense of superiority among products because of its quality, uniqueness and exceptional things that the company offer with the product. Due to differentiated strategy, the company is able to sell at a higher price which earns greater profit for the company.