Concept of Product differentiation and its methods

Due to extensive competitive market, the companies can achieve success by two ways either to reduce the price of their product or to make their product different from other products. If the company does not want to reduce their price than the product differentiation is the best way. It can be done in the following ways:

 i) Form: product differentiation can be made by changing the form of the product i.e.  its size or shape.

  ii) Features: product differentiation can be made by changing its features. Like knorr soupy noodles instead dry Maggi  make product differentiation by adding a feature of soupy noodles.

 iii)Performance and quality: product differentiation can also be made assuring the customers about its Performance and quality. As good performance and quality makes their product different product in the market.

       iv Durability: the customer buy the product with a mind set that the product will with him for a long period so durability is an important feature through which other company can make product differentiation. Like goderaj locks are more durable than ny other local brand.

v)Reliability: the company can make product differentiation through reliability strategy. Like goderaj locks are more reliable than any other local brand.

i)       Reparability: the company can also use reparability as product differentiation strategy.

ii)     Style and design: style and design act as important product differentiation strategy.

viii) Service:  product differentiation can be made by providing service to its customers. Like if the company provides good service to their customer only they will buy other products made by that company.

Therefore, the above discussed are the ways by which the company can make their product different from others.

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