BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Product differentiation: real or imagined differences between competing products in the same industry. Uses nonprice competition.

Detailed explanation-2: -The elements of differentiation include product design, marketing, packaging, and pricing.

Detailed explanation-3: -Horizontal differentiation refers to distinctions in products that cannot be easily evaluated in terms of quality. This stands in contrast to vertical differentiation, where the distinctions between products are objectively measurable and are based in the products’ respective level of quality.

Detailed explanation-4: -Product differentiation definition Product differentiation is the characteristic or characteristics that make your product or service stand out to your target audience. It’s how you distinguish what you sell from what your competitors do, and it increases brand loyalty, sales, and growth.

Detailed explanation-5: -Product differentiation is a process used by businesses to distinguish a product or service from other similar ones available in the market. This tactic aims to help businesses develop a competitive advantage and define compelling, unique selling propositions (USPs) that set their product apart from competitors.