Product differentiation and environmental opportunities

4 important questions on Product differentiation and environmental opportunities

How does product differentiation assist firms in emerging industries?

In emerging industries, advantages come from:
  1. Perceived technological leadership
  2. Pre-emption of strategically valuable assets
  3. Buyer’s loyalty due to high switching costs

What is product refinement in mature industries?

In mature industries, firms gain advantages through:
  1. Slight product modifications, known as product refinement
  2. Efforts to find refinement methods are often challenging
  3. Firms may exaggerate their product improvements

How can firms in declining industries use product differentiation?

In declining industries, firms can achieve advantages by:
  1. Becoming a market leader
  2. Leveraging reputation or unique product attributes
  3. Finding new viable niche markets for survival
  • Higher grades + faster learning
  • Never study anything twice
  • 100% sure, 100% understanding
Discover Study Smart

What is the impact of product differentiation on global markets?

In a global context, firms can utilize their differentiation by:
  1. Leveraging advantages from one country
  2. Entering new markets in other regions
  3. Facilitating expansion and competitive positioning

The question on the page originate from the summary of the following study material:

  • A unique study and practice tool
  • Never study anything twice again
  • Get the grades you hope for
  • 100% sure, 100% understanding
Remember faster, study better. Scientifically proven.
Trustpilot Logo