Differentiation helps establish a product's position in the marketplace. To compete successfully, your company must identify what makes your brand different or better, and communicate this value to potential customers. Differentiated products stand out from the competition with clearly beneficial features. Successful companies position their differentiated products in the marketplace effectively to attract the attention of likely customers.
Other People Are Reading * Two Types of Product Positioning * Positioning and Differentiation Strategies of Marketing 1. Differentiation Basics * When customers enter the marketplace to make purchases, they typically have options. By considering criteria like quality, taste, look, feel and price, they make purchasing decisions. To stand out from competitors, your product must have distinct features or benefits that your marketing communication clearly conveys to potential customers. A comparison of your product to competitors helps establish this differentiation.
Unique Selling Proposition * Companies differentiate their products in the marketplace through advertising that aims to establish a unique selling proposition. The website Entrepreneur defines a unique selling proposition as "the factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition." You can differentiate your product from the competition's, but unless you communicate specific value to potential customers, your marketing efforts will fail. * Sponsored Links * Customer retention marketing
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Positioning Basics * Positioning pits your product and brand against the competition, according to Business Dictionary.com. Product