Olive oil producers are facing continuously emerging challenges in the competitive global market, which represents a big challenge for the small-scale producers, which are facing with a differentiated and fragmented supply chain and decreasing price level. Recognizing the importance of assuring responsiveness to consumer preferences in their products becomes crucial for the small-scale olive oil producers, mainly those who practice low intensity traditional farming. In order to approach this topic, a review of existing literature has been done in the form of narrative review. The focus of this review is on product differentiation strategies of European small-scale producers of olive oil with the purpose of achieving higher prices for their products by meeting the consumer preferences.