An ability of an organization, to offer its services or products that must be perceived by customers as unique and superior, in comparison to its competitors is called

A. inelastic demand

B. product differentiation

C. cost leadership

D. elastic demand

Answer: Option B

Solution(By Examveda Team)

An ability of an organization, to offer its services or products that must be perceived by customers as unique and superior, in comparison to its competitors is called product differentiation. Product differentiation (or just differentiation) is a marketing process of differentiating an offering (product or service) from others in the market, to make it more appealing to the target audience.