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Entrepreneurs need to fully understand the value of creating differentiation options, and the activities that drive uniqueness in devising a sound differentiation strategy. In 250 words contrast the features and attributes that an entrepreneur should incorporate into a new ventures product and service package.

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Entrepreneurs need to fully understand the value of creating differentiation options, and the activities that drive uniqueness in devising a sound differentiation strategy.

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Every new product or service entry into an established market niche must take market share away from something else. That makes it essential to understand who your new competitors will be. Put yourself in your prospective customers' shoes and look at their wide range of buying options. Identify your potential competitors and learn everything you can about their products and services. This is the smart way to get the information you need in order to effectively position against them.

When you introduce a product or service to any market, you must differentiate from the vast field of competition. Decide ...

Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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