Discuss the major approaches that marketers use to differentiate their products.

Question

What will be an ideal response?

Answer 1

The three approaches that marketers use to differentiate their products from their competitors' products are product quality, product design and features, and product support services. Product quality refers to the overall characteristics of a product that allow it to perform as expected in satisfying customer needs. The concept of quality varies between consumer and business markets. For business markets, technical suitability, ease of repair, and company reputation are important characteristics. Unlike consumers, most businesses place far less emphasis on price than on product quality. Product design refers to how a product is conceived, planned, and produced. The style of a product is one design feature that can allow certain products to sell very rapidly. Good design, however, means more than just appearance; it also involves a product's functionality and usefulness. Product features are specific design characteristics that allow a product to perform certain tasks. By adding or subtracting features, a company can differentiate its products from those of the competition. Product features also can be used to differentiate products within the same company. Many companies differentiate their product offerings by providing support services. Usually referred to as customer services, these services include any human or mechanical efforts or activities a company provides that add value to a product.