Question

A company offers unique products that are widely valued by customers, it is likely to follow a

Answer 1

It follows Differentiation Startergy.

This strategy takes into the concept that the customers are going to pay more for a product if they believe that it is unique and if the customer values the fundamental difference.

This strategy involves gaining competitive advantage via emphasizing the product or service which customer can perceive to be valuable and position the company as the provider of the product which is better than the others.

It refers to -

""...creating something that is perceived industrywide as being unique.

Approaches to differentiating can take many forms: design or brand image, technology, (...) features, customer service, dealer network, or other dimensions"" (Michael E. Porter ).