product differentiation

"Product differentiation" is a strategy used in marketing and economics to make a product stand out from its competitors.

🇺🇸 US Voice:

🇬🇧 UK Voice:

Definition

(business, strategy)The strategy of making a product appear unique and more appealing to a specific audience compared to competing products.

Product differentiation can help a brand attract loyal customers.
Through effective product differentiation, the company increased its market share.

(academic, business)The creation of perceived differences between one firm's product and those of its competitors.

Economists study product differentiation to understand competitive dynamics.
Product differentiation can lead to higher prices and increased customer loyalty.

Terms that have similar or relatively close meanings to "product differentiation":