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 Form 3 Business Studies lessons on product markets

How the customers benefit from product differentiation

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Answer Text:
How the customers benefit from product differentiation
(i) Through availability of a wide variety of goods and services.
(ii) Individual consumer taste and preferences are catered for through product differentiation (consumer sovereignty).
(iii) Consumers are likely to buy goods at competitive prices.
(iv) Consumers are likely to get high quality goods due to competition.
(v) Through aggressive advertisement, it will enhance consumers’ awareness about the products available in the market.


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