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Product differentiation[ edit ] In order to achieve product differentiationthat particular product needs to have other unique features and stands out from its competing products, or that particular product becomes the only product that offers certain features to consumers by entering a new industry.
Achieving product differentiation is one of the ways for businesses to become the market leader. However, if the product differentiation were too radical, it would lead to acceptance problems on the consumer side, because the product might not meet the expected standards, or it could be quickly obsolete.
By offering a lower price, it would attract consumers to purchase, as their demand is likely to be higher, when the price is lower. In terms of offering a higher price, it also has the effect of drawing the attention from consumers, as consumers would wonder the reason behind it, and higher price product tends to be more appealing to the upper class group.
However, in order to take advantage from offering a higher price, the quality of the product has to match the price, otherwise, consumers would lose interests because of not getting what they pay for. However, differentiation focus targets a particular segment within a market, where it allows businesses to focus on their strength.
Thus, the user experience of the particular segment would be better, as all the marketing and pre-production work of the goods or services are focused on specific segment.
Additionally, the Mac OS System has a better security against virus attack. Apple is able to stand out from its competitors with its unique features through product differentiation strategy, as well as being able to take advantage from using premium-pricing strategy as their price differentiation.
Developers Bobby Murphy and Evan Spiegel took advantage from the growing trend of the social media, and targeted people from the age of 13 to 34, as expressing feelings and thoughts through the social media is one of the biggest phenomenon of teenagers.
It was a successful differentiation focus strategy implemented by Snapchat, as they focused on a particular segment instead of targeting people from every age group. By implementing differentiation focus strategy, it allowed Snapchat to focus on the features that people from the age of 13 — 34 prefer, and as a result, user experience would be enhanced, as the app is tailored for them.
Thus, inSnapchat became the top three leading social media app. In addition, differentiation would allow businesses to take advantage from brand loyalty. It is because differentiated goods and services are likely to have a better user experience, hence, the chance of having returning customers would be significantly increased.
However, differentiation also contains disadvantages, an example would high cost and time consuming, especially in the introduction stage of the product life cycle.
Apart from the concern over cost and time, another disadvantage would be differentiation hinders market entry. It is because successful differentiation would attract competitors to replicate, and once competitors implement price differentiation strategy, customers are likely to leave for a better offer in terms of the price.
Therefore, in order to avoid all the threats, businesses would have to ensure marketing and branding have been well accomplished in order to take advantage from brand loyalty.
Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Also, it takes time for differentiated products to gain recognition and be accepted by the public. Furthermore, differentiated products are likely to be recognized, as people would discover and examine them, which means, the risk of not gaining recognition would be reduced, and businesses are able to take advantage from brand loyalty if the user experience is exceptional.
On the flipside, it is also conceivable that successful differentiation would hinder new entry, i. Additionally, innovation is required in order to survive in the competitive global market, which means, it could be challenging for businesses to ensure their differentiated products are innovative and contemporary for people over a long period of time.
Thus, even though the upside of differentiation strategy is more likely to outweigh the downside of differentiation strategy in the long-term, businesses also have to ensure its sustainability at the same time.
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