Definition of Product differentiation:
The marketing of generally similar products with minor variations that are used by consumers when making a choice.
Development or incorporation of attributes (such as benefits, price, quality, styling, service, etc.) that A products intended customers perceive to be different and desirable. Advertising and promotion of a product is based on its differentiating characteristics.
Product differentiation is a marketing strategy that strives to distinguish a company's products or services from the competition. Successful product differentiation involves identifying and communicating the unique qualities of a company's offerings while highlighting the distinct differences between those offerings and others on the market. Product differentiation goes hand-in-hand with developing a strong value proposition to make a product or service attractive to a target market or audience.
If successful, product differentiation can create a competitive advantage for the product's seller and ultimately build brand awareness. Examples of differentiated products might include the fastest high-speed internet service or the most gas-efficient electric vehicle on the market today.
How to use Product differentiation in a sentence?
- Product differentiation focuses on the consumers' attention on one or more key benefits of a brand that make it better than other choices.
- Putting out a lot of product differentiation will have your product look desirable to many different people and their needs.
- A product differentiation strategy should demonstrate that a product can do everything the competing choices can but has additional benefits no one else offers.
- Differentiation may be reflected in the name, packaging, and promotion of a product.
- The product differentiation was thought to be responsible for the choice of the optimal mix of goods to delivered to the public.
- For a marketing manager, product differentiation becomes a key to gaining a degree of monopoly power in a market.
- They were good at product differentiation and made their products look really good to the consumer who would buy them.
Meaning of Product differentiation & Product differentiation Definition