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JAMB UTME - Commerce - 2004

Question 1 Report

When an organization studies a market that is undeserved by others and creates a product or service for the segment, it is engaged in?
Answer Details
The correct answer is "product differentiation." Product differentiation is the process of creating a product or service that is unique and distinct from what is currently available in the market. In this case, the organization is studying an underserved market segment and creating a product or service tailored specifically to their needs. The goal is to make the product stand out from competitors and appeal to the target market. This strategy allows the organization to capture market share in a specific niche and differentiate themselves from competitors.
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