Question

_______ is making it more a challenge today than ever before, to upgrade customer services to get an edge over the competitiors.
1. Product pricing
2. Product similarity
3. Product differentiation
4. Product designing

Answer 1

Correct Answer - Option 2 : Product similarity

Product similarity is making it more of a challenge today than ever before, to upgrade customer services to get an edge over the competitors.

• Product Similarity refers to the similar features that some products are attributed with. These products are known as substitutes.
• Substitutes are defined as products that can be replaced easily by the competitor's product. Thus, similar products which can satisfy the demand of the customers are substitutes.
• It becomes a challenge for the firms because the product of the competitor can also fulfill the demands of the customers. Various measures are taken by the firms to create a niche for their own product and create customer loyalty. 
• In today's challenging world, it becomes all the more challenging because firms have to carve out their own ways of getting an edge over the competitors. 
• One of the best ways of creating the niche is to upgrade customer services to communicate with the customers continuously.