Product Differentiation : Marketing And Marketing Essay

Product Differentiation : Marketing And Marketing Essay

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1. Explain and give an example of these terms in your own words.
Product differentiation:
Product differentiation is process commonly used by business. It is process of distinguish a product or services from similar offerings in the market. This involves differentiating it from market products as well as firm’s own products.
http://smallbusiness.chron.com/advantages-product-differentiation-strategy-17691.html

Product Line:
A product line is a segment of products that are closely related to each other. They are closely related by function, prize rate or price rage. For example, Dollar tree provides only those products which cost is $1. Product Mix is the range of products that are isolated from each other. Small business can use this strategy to generate larger sales revenue.
http://www.businessdictionary.com/definition/product-mix.html

Branding is the process involved in creating a unique logo and unique name in the consumers mind, mainly for the marketing and advertising purpose.
Co branding
co branding is marketing partnership between the two or more brands of goods or services. Like in internet commerce, two or more firms are working with each others to branding of goods and services.
http://www.investopedia.com/terms/c/cobranding.asp
Packaging
Packaging serve different function for the product. Packaging main purpose of helping in shops or stores to handle, transport and display the product. Packaging can also help to marketing and branding product.
http://study.com/academy/lesson/what-is-product-packaging-in-marketing-definition-types-importance.html







2. What types of products are the following?
a) Toothpaste: I believe that toothpaste is convenience product because convenience product is consumer product or s...


... middle of paper ...


...o offering product in the market. They are mostly including necessary elements for a brand to be considered in the particular segment. There are two types of point of parity first is category points, represents the important element that brand should possess for consumer to consider in the particular segment. Second is competitive point of parity, represents once your brand provide basic elements required by segment, the next step is to add elements which would negates the competitors.
Points of difference (POD):
The aspect of the product offers the product that largely similar to offering product in the market. One other word point of difference usually the attribute, benefits, functionalities that consumer associate with it, which one feels is not offered by other brands.

http://brand-strategies-guide.blogspot.com/2013/11/points-of-parity-and-points-of.html



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