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Six Sigma Green Belt Exam Prep

Category - Six Sigma Green Belt

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Charles’ company plans to expand its market into North Africa particularly Egypt and Algiers. As producers of high quality, specialty food supplements, they must launch products that are specifically targeted to this new market, setting them apart from their own offerings and the local market. What is this practice called?
  1. new market product launch
  2. product differentiation
  3. product innovation
  4. new product market launch
Explanation
Answer: B - Product differentiation is when a company distinguishes a new product from its own offerings and those of the competitors.
Key Takeaway: Launching a unique product for a specific market is a challenge for a company. Product differentiation means that the new product is distinguishable enough from the company’s present offerings and the competitors’ products as well. This offers the best chance of success in a new market.
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