Ways to differentiate a product do NOT include: a. providing different types of customer service for a b. adding features to a company's product.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question
### Ways to Differentiate a Product

When differentiating a product, certain strategies are commonly employed to stand out in the market. However, some approaches are not considered typical methods of product differentiation. Notably, the following list highlights ways to differentiate a product *do not* include:

a. **Providing different types of customer service for a product.**

b. **Adding features to a company's product.**

c. **Charging a lower price than other companies for a given product.**

d. **Changing the quality of the company's product.**

Make sure you focus on these points regarding product differentiation in your learning and applications. Each point describes an important aspect that businesses might consider, but remember the context in which it is mentioned.
  
For further detail, click on each method to explore examples and explanations relevant to your subject of interest.
Transcribed Image Text:### Ways to Differentiate a Product When differentiating a product, certain strategies are commonly employed to stand out in the market. However, some approaches are not considered typical methods of product differentiation. Notably, the following list highlights ways to differentiate a product *do not* include: a. **Providing different types of customer service for a product.** b. **Adding features to a company's product.** c. **Charging a lower price than other companies for a given product.** d. **Changing the quality of the company's product.** Make sure you focus on these points regarding product differentiation in your learning and applications. Each point describes an important aspect that businesses might consider, but remember the context in which it is mentioned. For further detail, click on each method to explore examples and explanations relevant to your subject of interest.
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Pricing in Input Markets
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education