Businesses do this to gain an edge in industries where. Competitive analysis template competitive analysis, powerpoint. When developing your product differentiation plan, assess whether or not the following can be unique and whether or not that uniqueness is a competitive. In economics and marketing, product differentiation or simply differentiation is the process of distinguishing a product or service from others, to make it more attractive to a particular target market. Product marketing is the way of bringing a product to market and supervising its overall success. Differentiation definition marketing dictionary mba skool. Marketing success through differentiationof anything. An important part of the marketing of the product is through product differentiation. As ian macmillan and rita mcgrath wrote in their 1997 hbr article, product differentiation is offering customers something they value that competitors dont have. Product differentiation being the most commonly used one of these two strategic typologies spencer, joiner, and salmon, 2009. One or more of the characteristics listed above is used to segment markets and described on subsequent slides. This involves differentiating it from competitors products as well as a firms own products.
Differentiation looks to make a product more attractive by contrasting its unique qualities with. You can take help of the differentiation in marketing examples. Product differentiation and market power springerlink. These are often known as differentiation strategies.
Introduction stage begins when development is complete ends when customers widely accept the product marketing strategy goals during this stage. Product differentiation and market segmentation are two distinct, important marketing strategy concepts. Differentiation focus 28 the star alliance 29 categories of marketing alliances product or service alliances promotional alliances logistics alliances pricing collaborations 30. This is one of the most popular color themes in business and marketing. Although more is becoming known about the relationships among elements of the marketing mix. Product differentiation and what it means for your brand. Segmentation, targeting, and positioning segmentation, targeting, and positioning massmarketing. Describe the steps involved in conducting a market evaluation for a product a producer wants to sell directly to a consumer. Product differentiation process of distinguishing a product from competitors. Mass marketing same product to all consumers no segmentation segment marketing. What are the welfare implications of product di erentiation. Categories of marketing alliances product or service alliances promotional alliances logistics alliances. Form, features, customization, performance quality, durability, reliability, repairability, style, design developing an integrated marketing mix managing the marketing effort marketing analysis marketing analysis marketing planning elements of a marketing. Product differentiation marketing blog for students and.
Monopolistic competition and product differentiation. Definition the process of distinguishing a product or offering from others, to make it more attractive to a particular target market. The differentiation of goods along key features and minor details is an important strategy for firms to defend their price from levelling down to the bottom part of the price spectrum download all 4,692 powerpoint marketing presentation templates unlimited times with a single envato elements subscription. Marketing strategy differentiating and positioning the. Differentiation in marketing powerpoint presentation slides. Product differentiation competitive advantage reliability. Chapter 8 market segmentation, targeting, and positioning. Product differentiation is a marketing strategy that businesses use to distinguish a product from similar offerings on the market. The marketing managers who may consider using target marketing will usually break the market.
Try the latest version of chrome, firefox, edge or safari. Pdf impact of product differentiation, marketing investments and. Product differentiation monopoly perfect competition. A unique selling point is a feature or benefit that separates a product from its competitors. We have many firms and free entry and exit, but because products are differentiated each firm can set its own price. Product differentiation adds a substantial amount of pressure on the manufacturers to decide which attribute could turn out to be the usp for that product. Mass marketing a strategy that presumes there is one undifferentiated market and that one product will appeal to all consumers in that market. Other marketing efforts like sales promotion act as an addon to differentiation strategy. The product, price and promotion portions of the marketing mix indicate what your best options are for product differentiation. Impact of product differentiation, marketing investments and brand equity on. They dream of establishing an unassailable market position for their solutions, a position that will enable them to capture a lions share.
Product differentiation and the strategic marketing process. Article information, pdf download for product differentiation and market segmentation as alternative marketing strategies, open epub for product. Differentiation is mainly a matter of customer perception. Product differentiation, petroleum, effimax, profitability, industry. Product classification or tools of product differentiation. Define product differentiation and explain a producers motivation for product differentiation of valueadded agriculture products. Competitive analysis templates and tools for swot analysis, competitor positioning, product strategy, product differentiation and market intelligence. Ppt marketing strategy powerpoint presentation free to.
Your ability to create a viable business growth strategy through differentiation is limited by the product itself. Differentiate between product and product marketing. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Company key differentiators with large market share ppt powerpoint presentation infographic template portfolio, key differentiators reduced operational risk and increased revenue ppt powerpoint. Marketing efforts give rise to the brand image which is a decent product differentiator. Product differentiation factors ppt powerpoint presentation styles skills, product positioning and differentiation plan quality and functionality ppt powerpoint presentation gallery graphics.
Selecting the right competitive advantages criteria. Ppt product strategy powerpoint presentation free to. Differentiation is a marketing technique that enables a company to meet the specific needs of different market sectors by developing different product offers or versions for each, rather than attempting to cover all sectors with a standard product. On the home tab, in the slides group, click layout. Product differentiation is a marketing process that showcases the differences between products. Theyll give your presentations a professional, memorable appearance the kind of sophisticated look that. Positioning and product differentiation chapter 7 segmenting and targeting markets notes. Apr 17, 2019 product differentiation deals with making changes in the marketing mix of a product so as to differentiate it from whatever the competition is offering or to offer a product which stands out in the market. A written marketing plan can function as a guide for you to follow in order to accomplish your goals for product marketing. A brand level investigation article pdf available in european journal of marketing 4956. The differentiation of goods along key features and minor details is an important strategy for firms to defend their price from levelling down to the bottom part of the price spectrum product differentiation. This raises the question of whether, in general, more product differentiation leads to higher market prices.
Branding in marketing strategy the marketing activities are various and each one has its distinctive role in increasing the companys sales, both longterm and shortterm. At the high end, the product has a longer life or durability. Offered under different brands by competing firms, products fulfilling the same need typically do not have identical features. Product differentiation may take the form of features, performance, efficacy. Free marketing plan template for powerpoint presentations. Product characteristics and marketing strategy 19 the term marketing mix suggests a relationship between interacting, elements. These include the customer segments skill or knowledge related to an issue, or their affinity to certain product features. Learn more about product differentiation and see how companies have applied. A unique selling point sometimes called a unique sales proposition is a. Marketing strategy product differentiation in a b2b market. Marketing strategy explanation of marketing strategy extension product differentiation in 2002, the cocacola company extended the products of coke and developed the new products coke with lemon and vanilla coke. Marketing management assignment help, what are tools of product differentiation, what are tools of product differentiation. Product differentiation definition marketing dictionary. Download free marketing powerpoint templates specializing in different facets of marketing and finance.
Ppt marketing strategy powerpoint presentation free to download id. Sometimes, differentiating a product adds to the production and marketing costs which can be transferred to the endusers. To engage with different customer segments, however, companies have to develop unique marketing and outreach strategies. The development of the term constituted a step forward in the classification of interrelated marketing efforts. Winner of the standing ovation award for best powerpoint templates from presentations magazine. It is responsible for generating positioning, messaging, competitive differentiation, and empowering the sales and marketing teams to ensure they are aligned and working efficiently to create and close opportunities. Chapter 16 the final market form we examine in monopolistic competition, which combines features of perfect competition and monopoly. Oct 19, 2016 product management seminar and ppt with pdf report. Product differentiation and market segmentation as alternative. Background product differentiation is a positioning strategy that many firms use to distinguish their products from those of competitors. Worlds best powerpoint templates crystalgraphics offers more powerpoint templates than anyone else in the world, with over 4 million to choose from. The advantages of a product differentiation strategy. Free marketing plan template for powerpoint presentations is a free powerpoint template for marketing plans that you can use as an outline template to make a complete presentation on marketing plan for a business, product or brand development.
There are several ways to achieve product differentiation. The marketing differentiation ppt slide is helpful to develop an interest in the product or service. A key term to remember is usp, which is the acronym for unique selling point. Every user can download the pack on the pc in two clicks. This differentiation strategy does not mean to compete with generic or lowpriced products, but rather provide customers with the best overall value out of all your product competition. A free powerpoint ppt presentation displayed as a flash slide show on id. Mar 18, 2011 methods of product differentiation slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. As products have many tangible and intangible attributes so products should be consider in identifiable groups, formally using a classificat. Product differentiation free download as powerpoint presentation. Product differentiation is the process of distinguishing a product or service from others. Marketing mix is the most tangible and the most flexible tool to create the desired positioning. In this sense there is excessive product di erentiation.
Examples of product differentiation including unique design, customer. If product differentiation increases, prices rise in a symmetric equilibrium. If there is an economic downturn, these companies seem to. The stages in this process are market analysis, define user need, mix segmentation, inventory stratification, product utilization. Marketing and sales strategies that communicate the benefits and competitive. Endogenous product differentiation, market size and prices. Product differentiation deals with making changes in the marketing mix of a product so as to differentiate it from whatever the competition is offering or to offer a product which stands out in the market. In economics and marketing, product differentiation is the process of distinguishing a product or offering from others, to make it more attractive to a particular target market. Offer features that higher priced competitors offer on their products, but at a lower price point. Market share is an important consideration, especially if one of the aims of the marketing strategy is to increase market share of an. The product strategy playbook from mckinsey alum free.
Say no to generic marketing presentations and get specific with slides that cater to conference room, client meetings and market analysis. Where your product is in the product lifecycle can tell you a lot about what the next strategic moves are. Product differentiation definition, process and examples. Product differentiation refers to the basic need to have product related qualities that set your brand apart from the competition. Identify the fundamental steps in developing a marketing plan. It doesnt make any difference whether they are a learning organization. This involves detailing the characteristics that are valued by customers that make it unique. Scribd is the worlds largest social reading and publishing site. Marketing mix product, price, place and promotion marketing mix. The concept was proposed by edward chamberlin in his 1933 the theory of. Its why they invest huge sums of money to develop unique products. Differentiation strategy powerpoint template sketchbubble. Massmarketing a strategy that presumes there is one undifferentiated market and that one product will appeal to all consumers in that market. The majority of our templates represented on the site have a minimalistic design.
Product challenges in creating new products idea shortage. Examples of differentiation in marketing your business. Monopolistic competition and product differentiation november 9, 2006 reading. Developing marketing plan for soft drink term paper. Its why one business thrives while another struggles. Assuming symmetry across firms and constant unit costs perloff and salop 1985 show. Product marketing powerpoint template sketchbubble. Companies use their marketing mix to create something specific and special for their customers.
Product differentiation is the primary goal of marketing. The business owner or marketing manager is usually held responsible for putting together a plan, but regular employees, such as a finance manager or an operations manager, can also provide valuable input for the plan to work. New product launch is a very composite, time consuming and is financially a big issue for any company. Sep 19, 2019 product differentiation is a marketing process that showcases the differences between products.
You can use this free marketing plan powerpoint template to prepare simple but effective marketing plans in. Meeting expectations of a particular target market segmentation. Product differentiation is a marketing strategy where a product is differentiated either by availability or by altering few features or by communicating the existing differences more effectively to customers. Learn the difference and more in this video to build your marketing skills. View product differentiation ppts online, safely and virusfree. Our site is great except that we dont support your browser. It doesnt matter whether they use onetoone marketing. Product differentiation definition, types, importance. Essential product differentiation techniques a product or service can be differentiated on the basis of performance, features, brand.
Product differentiation results from added features which give customers benefits that rivals cannot match. Market positioning powerpoint presentation slides slideteam. Differentiation product service image people areas for competitive differentiation. Segmentation, targeting, and positioning segmentation, targeting, and positioning mass marketing. At the low end the product is cheap and simply works. Using these brand positioning presentation slides, you can represent the concept of market segmentation, brand marketing, marketing mix, product. Differentiation in marketing is the process of distinguishing a companys productservice from those of its competitors and from its own products in order to make it more attractive to a particular target audience. Impact of product differentiation, marketing investments and. What are tools of product differentiation, marketing management. What are tools of product differentiation, marketing. A differentiation strategy involves the firm creating a product service, which is considered unique in some aspect that the customer values because the customers needs are. Impact of product differentiation, marketing investments and brand equity on pricing strategies. Positioning and differentiation in consumer marketing video. This marketing plan powerpoint template is offered for free download.
The major sources of product differentiation are as follows. When utilized successfully, product differentiation creates a competitive advantage as customers view your product as superior. If you continue browsing the site, you agree to the use of cookies on this website. Product differentiation is a vital tool for a company to survive in this global market, as product differentiation explores specific ways a company can effectively differentiate and position its offering in order to achieve greater competitive advantage throughout the products life cycle. Since the marginal cost cis independent of quality and all consumers appreciate quality, the production of any output of quality less than smax constitutes an ine ciency and hence a welfare loss. In economics and marketing, product differentiation or simply differentiation is the process of distinguishing a product or service from others, to make it more. Product differentiation product differentiation can be done on the following basis. Product differentiation is a marketing strategy whereby businesses attempt to make their product unique to stand out from competitors.