The Concept Of Product Differentiation

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These days, it can commonly be seen that many companies start offering customers the same products and services. Particularly, when it is likely that those products and services are in such high demand. For customers, this is a good value for them to have more options on selecting their most preferable and quality product. In consequence, this circumstance will encourage more competitive of trade in those products and services markets. Therefore, the most challenging work for emerging company is to consider how to make their own products preferred by most consumers. It may seem pointless to endeavour to compete in such environment. However, it still can be seen that many companies often do come into the marketplace and eventually succeed in selling products and services because they learned how to make their products and services become outstanding and unique than the others. We called this kind of practice as ‘product differentiation’. The aim of this paper is to demonstrate the key concept of product differentiation used in today’s market. Firstly, I will discuss on the concept of product differentiation, how it can be applied to products and services as a market strategy with reference to some literature reviews. Then I will move on doing a critical study on the use of quality offering in differentiation market. I am going to analyse how the company uses market segmentation as a way to approach to different types of customers. Finally, I will end by explaining more
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