product differentiation


product differentiation
The creation of a distinction between products that fulfil the same purpose but are made by different producers and therefore compete with each other. The distinction may be real (i. e. one product is better than others) or largely illusory. Producers in a competitive market use packaging, advertising, etc. , to enhance the idea that significant differences exist where none in fact do.

Big dictionary of business and management. 2014.

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  • Product differentiation — In economics and marketing, product differentiation (also known simply as differentiation ) is the process of distinguishing a product or offering from others, to make it more attractive to a particular target market. This involves… …   Wikipedia

  • product differentiation — A source of competitive advantage that depends on producing some item that is regarded to have unique and valuable characteristics. Bloomberg Financial Dictionary * * * product differentiation product differentiation ➔ differentiation * * *… …   Financial and business terms

  • Product Differentiation — A marketing process that showcases the differences between products. Differentiation looks to make a product more attractive by contrasting its unique qualities with other competing products. Successful product differentiation creates a… …   Investment dictionary

  • product differentiation — /ˌprɒdʌkt dɪfəˌrenʃi eɪʃ(ə)n/ noun the process of ensuring that a product has some unique features that distinguish it from competing ones ● We are adding some extra features to our watches in the interest of product differentiation …   Marketing dictionary in english

  • product differentiation — noun a) Perceived differences between the product of one firm and that of its rivals so that some customers value it more. b) The process of creating such differences …   Wiktionary

  • functional product differentiation — /ˌfʌŋkʃən(ə)l prɒdʌkt dɪfərenʃiˌeɪʃ(ə)n/ noun the process of ensuring that a product has some functional features that distinguish it from competing ones …   Marketing dictionary in english

  • differentiation — dif‧fe‧ren‧ti‧a‧tion [ˌdɪfərenʆiˈeɪʆn] noun [uncountable] the process of showing or seeing that one thing is different from something else ˈproduct differentiˌation MARKETING when a company shows how its products are different from each other… …   Financial and business terms

  • Differentiation — may refer to: Differentiation (mathematics), the process of finding a derivative Differentiated instruction in education Cellular differentiation in biology Planetary differentiation in planetary science Inductive reasoning aptitude in psychology …   Wikipedia

  • Differentiation (economics) — Differentiation is a concept used in business strategy and describes one of the three ways to establish competitive advantage. Differentiation advantage occurs when a firm delivers greater services for a non unlimited higher price than its… …   Wikipedia

  • Product management — is an organizational function within a company dealing with the planning or marketing of a product or products at all stages of the product lifecycle. Product planning (in bound marketing) and product marketing (outbound marketing) are different… …   Wikipedia