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Differentiation strategy attempts to get customers to pay more for your product. How do we achieve that?...

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General Management

Differentiation strategy attempts to get customers to pay morefor your product.

How do we achieve that? When this strategy works best? (customerneeds, ways to differentiate, competition, etc.) What are somecaveats you may think of when pursuing differentiationstrategy?

Answer & Explanation Solved by verified expert
3.6 Ratings (261 Votes)
We get the customers to pay more for a product by changing their perceptions about the product What this means is the fact that most companies following differentiation follow an almost clanlike approach where the individual is not just buying a product or a service it is essentially like they are becoming a part of the family A family that has high standards of care and loyalty towards each other A company that can achieve this emotion evokes the feelings of a    See Answer
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