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 . This involves differentiating it from competitors ' products as well as a firm's own products. The concept was proposed by Edward Chamberlin in his 1933 The Theory of Monopolistic Competition . Product Differentiation Defined Product differentiation is a marketing strategy whereby businesses attempt to make their product unique to stand out from competitors. Businesses do this to gain an edge in industries where multiple competitors produce similar products. There are other methods businesses can employ to gain that edge, like pursuing a low-cost strategy and advertising, but while those are legitimate marketing strategies, they are different from product differentiation. Product differentiation means that some feature, physical attribute, or substant
• Key words: To be an exclusive and unique brand. To encourage customers to be creative. To focus on being customisation expert, to offer more customisation alternatives. Meeting the modern demand. A grander prospect. Macro trend - individualisation • Individualisation can be seen as a shift from more collectivist societal norms to more individualism, where a person’s fate is more a question of interest and skill than necessity and tradition. (Trendone,2017) This trend suggested that people are looking for more individuality and originality. They increasing find themselves in competition with others and they want to distinguish themselves to stand out from the crowd. People create their own identity and it could be shown by self-designed clothes, media consumption or a chosen lifestyle. They look for distinction in niches. • Companies have gradually spotted this and are trying to meet these needs. This trend has influenced business whil
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