It is important for organizations to determine product features and the use of advertising if using price to compete is not an option. Choose an organization not previously selected by another student and provide a recommendation to the organization on the use of product differentiation as a means of competition. Create a list of reasons for your recommendation and include considerations of product features and use of advertising.© BrainMass Inc. brainmass.com April 3, 2020, 11:08 pm ad1c9bdddf
Product differentiation is common in industries where there are a number of firms producing similar products. Through product differentiation, firms can create demand that is more inelastic and profit as a result. This market structure is typically called monopolistic competition. To answer ...
This solution of 183 words discusses product differentiation and advertising with examples.