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Product differentiation Definition
Product differentiation Definition - Trends
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mainly focuses on the macro environment of a business. But context analysis considers the entire environment of a business, its internal and external environment. This is an important aspect of business planning . One kind of context analysis, called SWOT analysis , allows the business to gain an insight into their strengths and weaknesses and also the opportunities and threats posed by the market within which they operate. The main goal of a context analysis, SWOT or otherwise, is to analyze the environment in order to develop a strategic plan of action for the business. Context analysis also refers to a method of sociological ...
The product differentiation definition states that it is the process by which a product is distinguished from others, so that it appeals more to the target audience. Other than distinguishing the product from its competitors, this process should ensure the product is distinct from all other products the company offers. Product differentiation gives the product or service an edge over rival products. It highlights unique aspects of the products and also generates value for the product in the eyes of the buyer, which should be any manufacturer’s ultimate goal. When the buyer ... Read More
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