Burbally, a trench coat manufacturer, began to shift their marketing efforts from targeting everyone, everywhere, to...
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Burbally, a trench coat manufacturer, began to shift their marketing efforts from targeting everyone, everywhere, to focusing on manufacturing high quality trench coats for the luxury customers of the future. Burbally believed that these luxury customers were being ignored by their competitors. According to this statement it is most likely that Burbally’s core business (trench-coat manufacturing) is following a _______ business level strategy.
cost strategy
differentiation strategy
integrated cost and differentiation strategy
competitive strategy
Homework Answers
The correct answer is "differentiation strategy".
Differentiation strategy refers to the development of product or service that provides unique benefits or features that are valued by the customers. Also, the customers perceive to have better product than that offered by the competitors. Product differentiation is the process of differentiating its products or services that provide unique features which are valued by the customers. It includes durability, aftersales service, quality, etc. So, a firm choose differentiation strategy if they want to earn profit rather than market share. They target high-end customers and offer the products at higher cost to create value of its products to the customers.
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