With examples explain product differentiation
Product differentiations is a practice by producers in imperfect market to create artificial differences between goods which perform or serve similar functions.
Product differentiation involves highlighting the features of a product or service that make it unique and valued by customers.
Features of product differentiation
- Difference in packing
- Differences in branding
- Differences in designing
- Differences in labelling
- Quality of products
- Scent/smell
- Color
- Logo
CATEGORIES Economics
TAGS Dr. Bbosa Science