The tools for differentiation include:
i) Form — Size, shape or physical structure
ii) Features — Varying features or characteristics that supplement the basic function of the product, e.g. new feature.
iii) Performance — Quality —meeting or exceeding customers’ expectations, ensuring customer loyalty, repeat purchase and profitability for the firm
iv) Durability — Expected life of a product. This will depend on what attributes the market is looking for.
v) Reliability — The probability that the product will malfunction or fall within a specific time period
vi) Reparability — Customers prefer products that are easy to install repair and maintain.
vii) Style — The products look and feel o the buyers. The buyers will always pay for products that are attractively designed premium.
viii) Design — Totality of features that affect how a product looks and functions in terms of customer requirements.
Titany answered the question on October 6, 2021 at 12:28
- Errors in Product Positioning Strategy(Solved)
Errors in Product Positioning Strategy
Date posted: October 6, 2021. Answers (1)
- List four ways of conducting product positioning(Solved)
List four ways of conducting product positioning
Date posted: October 6, 2021. Answers (1)
- Micro Environment/Internal Factors determining marketing strategy(Solved)
Micro Environment/Internal Factors determining marketing strategy
Date posted: October 6, 2021. Answers (1)
- Social effects of technology in marketing strategy(Solved)
Social effects of technology in marketing strategy
Date posted: October 6, 2021. Answers (1)
- Classification of environment in marketing strategy(Solved)
Classification of environment in marketing strategy
Date posted: October 6, 2021. Answers (1)
- Basis of Segmenting Business Markets(Solved)
Basis of Segmenting Business Markets
Date posted: October 6, 2021. Answers (1)
- Basis for Segmenting Consumer Markets(Solved)
Basis for Segmenting Consumer Markets
Date posted: October 6, 2021. Answers (1)
- Levels of Market Segmentation(Solved)
Levels of Market Segmentation
Date posted: October 6, 2021. Answers (1)
- Merits of Marketing Strategy and Plans(Solved)
Merits of Marketing Strategy and Plans
Date posted: October 6, 2021. Answers (1)
- Describe the Marketing Planning Process(Solved)
Describe the Marketing Planning Process
Date posted: October 6, 2021. Answers (1)
- Factors influencing Marketing Strategies and Plans(Solved)
Factors influencing Marketing Strategies and Plans
Date posted: October 6, 2021. Answers (1)
- Importance of the Functional Level in marketing strategy(Solved)
Importance of the Functional Level in marketing strategy
Date posted: October 6, 2021. Answers (1)
- Purpose of marketing strategies and Plans(Solved)
Purpose of marketing strategies and Plans
Date posted: October 6, 2021. Answers (1)