product and service differentiation

what makes your product or service different and more appealing to customers than other options in your category. product differentiation is what gives you a competitive advantage in your market. the goal of product differentiation is to create a competitive advantage or to make your product superior to alternatives on the market. benefits are the values a customer receives when they purchase your product or service.

when you align a product’s benefits to what your target audience wants more effectively than your competitors, you have a differentiated product that provides value to customers. vertical differentiation is when customers choose a product by ranking their options from best to the worst using an objective measurement, like price or quality. customers making more complex purchases tend to use a mix of vertical and horizontal differentiation when making purchase decisions. communicating the distinct features and benefits of your product is the secret to successful marketing. building a distinct product or service and finding its place in the market takes a lot of work.

product differentiation is a marketing strategy that strives to distinguish a company’s products or services from the competition. product differentiation is intended to prod the consumer into choosing one brand over another in a crowded field of competitors. as a result, the smaller company might highlight exceptional service or a money-back guarantee. sometimes differentiation marketing doesn’t require any changes to the product but involves creating a new advertising campaign or other promotions. as stated earlier, the differences between the products can be physical in nature or measurable, such as the lowest-price gym in a region.

the actual difference in the product and that of the competition might be minuscule or nonexistent. below are a few of the most common strategies employed to differentiate a product or service. also, the added level of service that results from being in “your neighborhood” is a way for companies to showcase their high-quality service or product but also justify a higher price versus national brands. the strategy might be to focus on a lower price point or that it’s a locally-owned business. companies introducing a new product often cite its lower costs to buy or use. if it comes with a reusable filter, the savings on paper filters are highlighted in packaging and advertising it.

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