Suppose the baldwin company begins to compete through good designs, high awareness and easy accessibility for their existing products, what strategy would they be implementing?
Answers
Niche Differentiation
Answer:
Niche differentiation.
In ecology, niche differentiation (also known as niche segregation, niche separation, and niche partitioning) refers to the process by which competing species use the environment differently in a way that helps them to coexist.
Explanation:
A good example of niche differentiation occurs in several different areas of the Caribbean Islands, and Central and South America, where many different species of anole lizards (sometimes as many as 15) can be found living in the same area even though they share basically the same fundamental niche.
A broad differentiation strategy consists of building a brand or business that is different in some way from its competition. It is applied to the industry and will appeal to a vast range of consumers.
Competition refers to an activity whereby several firms strive to convince customers in the market to buy their own goods in preference to competitors' products. Competition leads to the provision of quality goods and services since each firm competes to have few customers in the market. i.e. people will tend to the firm with better services. It also motivates firms or organizations to increase their sales volume by utilizing the components of the marketing mix.