What will be your business strategy? Product differentiation or low-cost provider?

The differentiation strategy is to create an image of the business in the perception of consumers as unique and to create a unique product. Creating candies with unique flavor characteristics of the highest quality of manufacturing and handmade allows differentiation to create a competitive advantage.

Product differentiation will create added value for the consumer in the form of uniqueness or elitism of the product being purchased, which justifies the higher unit price in the customer’s perception.

The motivation for choosing this strategy is driven not so much by the desire to create another candy in the market to enrich oneself but rather to realize creativity and provide the consumer with a unique, valuable product.

In terms of the six-step approach, this strategy responds to an assessment of external factors and a deep understanding of what consumers want — to buy another brand of jelly candy or acquire a valuable product significantly different from the competition.

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Academic.Tips. (2023, May 29). What will be your business strategy? Product differentiation or low-cost provider? https://academic.tips/question/what-will-be-your-business-strategy-product-differentiation-or-low-cost-provider/

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Academic.Tips. 2023. "What will be your business strategy? Product differentiation or low-cost provider?" May 29, 2023. https://academic.tips/question/what-will-be-your-business-strategy-product-differentiation-or-low-cost-provider/.

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Academic.Tips. "What will be your business strategy? Product differentiation or low-cost provider?" May 29, 2023. https://academic.tips/question/what-will-be-your-business-strategy-product-differentiation-or-low-cost-provider/.

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