Differentiation: to achieve a competitive advantage by creating a product that customers perceive as different or distinct in some important way. (Budweiser and Sea World)

Diversification: the process of adding new businesses to the company that are distinct from its established operations.

Dominant Design: common set of features or design characteristics. This standard of having a product that needs certain specific complimenting products can be a competitive advantage. Ex) Microsoft and Intel with computers

Explain how a differentiation strategy, or a  low-cost strategy protects a firm from each of the five forces.

Differentiation Strategy 

1. Threat of new entrants: 
2. Power of buyers: 
3. Power of suppliers: 
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