What Is Meant By Product Differentiation?
Product Differentiation is a widely used term in marketing. It means distinguishing a product or service from its competitors, in terms of the value it offers to its customers. It helps in making a product unique and in essence, is a source of competitive advantage for a firm. e.g. BMW differentiates its cars from its competitors by offering mass customization to its target market.This makes the company unique and gives it a competitive advantage over its competitors.
