SETTING PRODUCT STRATEGY

Submitted to Professor Sameer Mathur

DIFFERENTIATION

Product and Services

Differentiation

It is a marketing strategy to gain an edge over competitors.

Product DifferentiationProcess of distinguishing a product from competitor ones.

Products can be differentiated in many ways: Form Features Customization Performance Quality Conformance Quality Durability Reliability Repairability Style

FORM

Many products can be differentiated in form-• Size• Shape• Physical structure

FEATURES

• A company can select new features by surveying recent buyers• Marketers should consider how many people want each feature• A company must prioritize features and tell consumers how to benefit from them.

CUSTOMIZATIONCustomization is the ability to individualize market offerings ,messages and media.

PERFORMANCE QUALITY

Companies adopt a value model and provide higher quality for less money.

CONFORMANCE QUALITY

Buyers expect a high conformance quality ,the degree to which all produced units meet promised specifications.

DURABILITY

• Durability ,a measure of product’s expected operating life.

• Extra price must not be excessive.

RELIABILITY

• Reliability is a measure of the probability that a product will not fail.• Buyers pay a premium for more reliable products.

REPAIRABILITY

• Repairability measures the ease of fixing a product when it malfunctions.

• Customers prefer products with low repairable cost.

STYLE

Style describes products look and feel to the buyer.

DIFFERENTIATION

Services

When the physical product cannot be differentiated the key to competitive success lie in adding valued services.

MAIN SERVICE DIFFERENTATORS:

• Ordering Ease• Delivery• Installation• Customer Training• Customer Consulting• Maintenance and Repair• Returns

1) ORDERING EASE

It refers to how easy it is for the customer to place

order with company.

2) DELIVERY

Delivery refers to how well the product is brought to the customer.

3) INSTALLATION

Ease of installation is a true selling point for buyers of complex products.

4) CUSTOMER TRAINING AND CONSULTING

• It helps the buyers to use the equipment properly and efficiently.

• It includes information the seller offers to the buyers.

5) RETURNS

Product returns are an avoidable reality of doing business, especially with online purchases.

Created by Aditi Jain ,LSR ,New DelhiDuring marketing internship under Professor Sameer Mathur