BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Product differentiation is a strategy used by businesses to highlight the unique features and benefits of its product or service to separate it from competitors. The marketing team communicates these unique qualities through their campaigns and promotions.

Detailed explanation-2: -What are Types of Product Differentiation? Several different factors can differentiate a product. However, there are three main categories of product differentiation. These include horizontal differentiation, vertical differentiation, and mixed differentiation.

Detailed explanation-3: -The elements of differentiation include product design, marketing, packaging, and pricing.

Detailed explanation-4: -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: -Specialization can set small businesses apart from the competition. Specializing in a specific product, service, or clientele provides the greatest opportunity for businesses to become the best at what they do and to deliver continuous innovation around optimizing products or services.