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Sagot :
Product differentiation by incumbents acts as an industry entry barrier because (D) new entrants will have to spend heavily to overcome existing customer loyalties.
What is product differentiation?
- A marketing tactic called "product differentiation" aims to set a company's goods or services apart from those of its rivals.
- Identifying and articulating a product or company's distinctive traits while stressing the key distinctions between that product or company and its rivals are necessary for successful product differentiation.
- Creating a compelling value proposition and product differentiation work hand in hand in order to make a product or service appealing to a target market or audience.
- If done well, product differentiation can give the seller of the product a competitive edge and ultimately increase brand recognition.
- The quickest high-speed Internet service or the most fuel-efficient electric car on the market are two examples of distinct products.
Therefore, product differentiation by incumbents acts as an industry entry barrier because (D) new entrants will have to spend heavily to overcome existing customer loyalties.
Know more about a product differentiation here:
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