Differentiation Strategies : Defination, What is it, It's importants, Example and it's Benefit Overview

Differentiation Strategies (*❛‿❛)→What , Meaning , Importance , Example , Benefit.

✅ What is Differentiation Strategies?
A differentiation strategy is an approach businesses develop by providing customers with something unique, different and distinct from items their competitors may offer in the marketplace. The main objective of implementing a differentiation strategy is to increase competitive advantage.
✅ Types of Differentiation
The three types of product differentiation are vertical, horizontal, and mixed. A common example of vertical integration is when two products are similar but priced differently. However, if the price of both products was the same, one would be considered "the best" because of its perceived quality.

✅ Example of Differentiation Strategies 
Differentiation strategy allows a company to compete in the market with something other than lower prices. For example, a candy company may differentiate their candy by improving the taste or using healthier ingredients.
✅ Why is Differentiation Strategies is Important
Basically It provides a superior level of value to your customers and helps your company to distinguish itself in the marketplace. As such, the main aim of any differentiation strategy is to increase your business's competitive advantage.

✅ Benefits of creating a differentiation strategy
Differentiation strategy allows a company to compete in the market with something other than lower prices. For example, a candy company may differentiate their candy by improving the taste or using healthier ingredients.

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