Product Differentiation
Product differentiation is the process,strategy,emphasis which attempts through innovative design, packaging to make clear distinction between a particular competing product or service from others and those that are similar to make it more attractive to a target market. The differentiation enables a company to achieve a competitive advantage over other companies offering similar product substitutes. It is an essential marketing process that is of vital economic importance to a business. Product differentiation serves as a catalyst in a consumer’s purchase decision-making process. It basically sets one product apart from the rest and serves as the deciding factor in purchase decisions.
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