Marketing Assignment

Marketing Assignment Essay example
Masters
Essay
Marketing
Pages 8 (2008 words)
Download 0
Marketing: Product Differentiation Name: Institution: MARKETING: PRODUCT DIFFERENTIATION In marketing, differentiation of products refers to the process via which products or services are distinguished from other offerings made by competitors. This is aimed at making them more attractive to the firm’s target market…

Introduction

Successful differentiation gives the firm a competitive advantage as customers will look at the products as superior and unique and can be achieved in various ways. This paper will first detail eight ways to differentiate product offerings, and then concentrate on packaging the product in a more creative manner and incorporating new functional features into the product or product innovation. Strategies for Product Differentiation One way to differentiate products is via product innovation by adding functions or features into a product and commanding a higher price (Trout & Rivkin, 2012: p 34). These features can be added through acquiring or licensing complementary feature sets or by using the firm’s in-house team for product development. Another way to differentiating products is through packaging. At times, all it takes to differentiate or re-energize a product is via changing the packaging. This was very effective when it was used in collaboration with another product and delivered in an innovative manner. While this method does not have enough value to change a consumer’s life, the manner of packaging offers more convenience allowing them to charge more (Trout & Rivkin, 2012: p 45). A firm could also pursue other market niches in areas that are unsophisticated (Trout & Rivkin, 2012: p 67). ...
Download paper
Not exactly what you need?

Related papers

E-marketing assignment on Olympics Web TV
As a new company Olympics Web TV will have strengths with regards to its marketing mix on product, place, promotion, people and physical evidence. From the outset the product will be specifically designed for online delivery and as such the organisation can easily personalise their product to different consumer tastes and also avoid the costly challenges that its multi-delivery competitors faced…
Marketing Assignment
Precisely, population growth is inversely proportional to female wages. Scarcity of resource is the main cause of migration. Population growth leads to scarcity of resources or add pressure to existing resources leading to migration. The rate of rural-urban migration is directly proportional to population growth. Population growth also lowers per capita income of a country. This reduces the…
Marketing Assignment.
1. Introduction Ryanair began its operations in 1985 with a single 15-seater plane, primarily a conventional airline from Dublin and Waterford in the Ireland Republic to London. During the initial years of operations, the airline faced significant financial challenges, which led to losses in the company. After an analysis of its marketing strategies, the company decided to re-launch in 1990/1991…
Marketing, Assignment
Due to the maintenance of high quality in its food products, the company has grown quite popular in the bakery market in the UK and has consistently being awarded with a lot of prestigious awards both of national as well as international level. …
Contemporary marketing Assignment
With such keen interest in building a strong brand, two issues usually come up. One has to do with the components of a strong brand and the other has to do with ways of developing a strong brand (Farris et al., 2010). While customer loyalty is mainly described by what individuals do, brand loyalty usually is defined by the feelings and impressions of individuals (Dawes, 2009). A number of global…
Marketing Assignment
Thus, pricing plays a central role in marketing. Grocery retailers are becoming the dominant player in the food chain in the United States (US) and in a number of other nations. Most likely the question is not whether retailers have the ability to influence to increase price, but rather the extent and the implication of that influence. Retailers adjust their pricing in response to the demand of…
marketing assignment
Hence, marketing of the contemporary business world has moved on towards engaging, motivating and satisfying customers with personal values orientation than product featuring in fragmented mediums (Kotler, and Keller, 2009). This basic criterion of customer orientation drives marketing in every industry (Doyle, 2002). For example, high competitive retail industry requires marketing tools will…