Question

Aside from low-cost strategy, describe other methods that businesses can use to differentiate their products.

Answer 1

Aside from low cost strategy, there are more other methods that will help business in differentiating their products.

·         Exploring new markets – This where the market concentrates on their fellow contenders.

·         Partnership with other firms – It is a way of teaming up with other organizations which will be of benefit for the products that is being sold by the company.

·         Innovation – It is a way of asking higher price compared to other companies when new features of the product is being added as consumers will most likely want to buy something new and fresh.

·         Propose amplified provision – Different services are being applied for the sake of consumers so that more consumers will be attracted to the product.