Marketing
Product Differentiation
Definition of
Product differentiation refers to the process of distinguishing a company's products or services from those of its competitors. It is a marketing strategy that focuses on highlighting unique features, benefits, and attributes of a product or service to make it more attractive to customers. Product differentiation can be achieved through various means such as quality, design, packaging, pricing, advertising, and customer service. For example, Apple's product differentiation strategy is based on design and quality, whereas Walmart's product differentiation strategy is based on pricing. A company may also use product differentiation to target a specific market segment or to create a unique brand identity. By differentiating their products or services, companies can stand out in a crowded marketplace and gain a competitive advantage.
