Product Differentiation
It’s about differentiating your
product in comparison to that of competitors in a meaningful way. In other
words, product differentiation
(or simply differentiation) is the process of distinguishing a product or service from others, to make it more
attractive to a particular target market. This involves differentiating it
from competitors'
products as well as a firm's own products
A marketing process that
showcases the differences between products. Differentiation looks to make a
product more attractive by contrasting its unique qualities with other
competing products. Successful product differentiation creates a competitive
advantage for the seller, as customers view these products as unique or
superior.
Product differentiation
strategies
•
Form: Size,
shape and physical structure
•
Features: Added
benefits for customers
•
Customization: Suiting
individual or mass customer need
•
Quality: Performance
and conformance
•
Durability: Expected
operating life
•
Reliability: Probability
of product malfunction
•
Reparability: Ease
of fixing and repairing
•
Design: How
a product looks, feels and functions
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