Product differentiation

SERVICES - THE NEED FOR DIFFERENTIATION What are services and what exactly draws the line between product differentiation and service differentiation? How does one create demand for services and is there any heterogeneity involved? Guy Black (Black, 1951) has very well illustrated these points in his paper titled ‘Product Differentiation and demand for Marketing Services’. Going back to the definition that Marshall has given us – Services are the category of intangible things that are desired or which satisfy human wants. Just like how we have product differentiation in the goods category, there is also an aspect of service differentiation and that is where you have monopolies entering the market. Chamberlin has specifically focussed his work…

A perfect generic strategy is one which can provide a company with a competitive advantage over other companies in the market and has the potential to help the company to sustain its level of growth in the market. A company or a business organisation should always select a strategy after identifying its requirements and needs and analysing the existing trends in the market. Based on its needs and requirements, a company can choose from three major strategic options––cost leadership,…

Product Differentiation Product differentiation is a marketing strategy whereby business attempt to make their product unique to stand out from competitors. Business makes their products unique to gain an edge in industries where they produce products which are similar (Kotler & Keller, 2014). Methods which can also be used for business to gain edge are like low-cost strategy and advertising.an example of product differentiation a cereal like bran is packaged in two options, generic bran which…

Asda, Sainsbury, and Waitrose they have used right strategies and policies and it has worked as well. All business should know about right strategy. Sainsbury is chain of grocery Retail Company in Uk. Sainsbury have 537 supermarkets and they are offering food and non-food products and services. Sainsbury handling 10 different expansions group for farmers,…

They use product differentiation as a strategy. Product differentiation as a strategy means they attempt to gain competitive advantage by increasing the perceived value of their products and services relative to that offered by competing firms. By increasing the perceived value of their products or services, they can charge higher prices than other competitors, increasing the revenue of the corporation, and generating competitive advantages. Cruises offered by Royal Caribbean feature innovative,…

Introduction Dana Holding Corporation a leading public company in the United States’ automotive parts manufacturing industry. It mostly produces driveline products such as drive shafts, axles, and transmissions. It also provides service parts and thermal-management merchandises. Its customers include several companies that assemble light, medium, and heavy commercial vehicles both within and without the United States. Dana’s prosperity in the automotive industry comes from the business-level…

and single-product business. This essay supports HP’s expansion into the Australian juice industry which has experienced steady 9.8% annually growth between 2011-2016 (Tonkin 2016, p. 3), benefiting most from pursuing a differentiation strategy. Strategic analysis Porter argues an effective strategy positions businesses to respond to competitive forces, being ‘customers, suppliers, potential entrants, and substitute…

Product positioning is the next step to consider once the segmentation and targeting processes are completed. Product positioning is a crucial part to market segmentation process because it determines how consumers view a particular product. According to MKTG 8, “Positioning is the place a product, brand, or group of products occupies in consumers’ minds relative to competing offers” (Lamb, Hair, & McDaniel, 2015, p.155). Consumers are constantly comparing products to ensure that they are making…

FORCES (MICRO ANALYSIS) Porter's Five Forces is Harvard Business School’s Competitive Position Analysis. It was developed as a simple framework for assessing and evaluating the competitive strength and position of a business organization (Porter, 1980). The base of the theory is the concept which consists from five forces that determine the density of competition and market’s allurement. Five forces of Porter help to determine where power lies within a business situation. It also can help to…

those categories give choice for the customer to full fill their needs. In their they give to the choice for the consumer to full fill their needs using demographic, geographic, psychographic, and behavioral segmentations. For example lucky Lanka Company always gets resources (milk) from Sri Lankan farmers and then manufactured yogurt .In the marketing think about demographic, geographic, psychographic, and behavioral segmentations. Under the demographic segmentation organization think about…