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Diverse means of differentiating products and services

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Consider the diverse means of differentiating products and services. Which ones have the most impact on your choices? Why? Can you think of certain brands that excel on a number of these different means of differentiation?

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The response addresses the queries posted in 563 Words, APA References

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The response address the queries posted in 685 words with references.
// Diversifications call for differentiating products and services. In order to start a paper like this, we must first explain the concept in a short introduction. After that we should start with explaining the diverse means of differentiating products and services

When the competitive advantage of a firm lies in special features incorporated into the product/service, which are demanded by the customers willing to pay for those, the strategy adopted in this situation is the differentiation business strategy. The firm outperforms its competitors who are not able or willing to offer the special features that it can and does. Consumers like to buy the differentiated product if it gives utility which they value. A differentiated product/service stands apart in the market and is distinguishable by the customers for its special features and attributes (Kazmi, 2002).

The major attraction and benefit in resorting to differentiation is that it takes the firm away from a total price-based competition. In other words, it allows the firm to fight on the non-price plank, with all the benefits associated with it. So, ...

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Ashish Sharma, MBA (IP)
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  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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