Product differentiation, Managerial Economics

Assignment Help:

PRODUCT DIFFERENTIATION 

Product differentiation describes a situation in which there is a single product being manufactured by several suppliers, and the product of each supplier is basically the same.  However, the suppliers try to create differences between their own product and the products of their rivals.  It can be achieved through quality of service, after sales service, delivery dates, performance, reliability, branding, packaging, advertising or in some cases the differences may be more in the minds of the customers rather than real differences, but a successful advertising can create a belief that a service or product is better than others and thus enable one firm to sell more and at higher price than its competitors.


Related Discussions:- Product differentiation

Vanda-Laye Corporation, You are the new owner of Vanda-Laye Corporation. Yo...

You are the new owner of Vanda-Laye Corporation. You are interested in your company''s cost and revenue relationships as well as its future pricing strategies. Tasks: Analyze how

Product differentiation, PRODUCT DIFFERENTIATION   Product differenti...

PRODUCT DIFFERENTIATION   Product differentiation describes a situation in which there is a single product being manufactured by several suppliers, and the product of each su

Demand forecasting, what is the importance of demand forecasting to manager...

what is the importance of demand forecasting to managers

Cost parameter, A toy manufacturer makes output according to the production...

A toy manufacturer makes output according to the production function: where n is the number of workers employed by the firm, O is a technological parameter and g the worker

Organization for economic development (oecd), Organization for Economic...

Organization for Economic Development (OECD) An international organization found in Paris France in 1961, to act as a worldwide forum to stimulate world trade and

Functions of commercial banks, Functions of Commercial Banks In modern...

Functions of Commercial Banks In modern economy, commercial banks have the following functions: i.     They provide a safe deposit for money and other valuables. ii.

Case let 2, is Indian companies running a risk by not giving attention to c...

is Indian companies running a risk by not giving attention to cost cutting?

Location problem in the plane, Location problem in the plane: In Kent, ...

Location problem in the plane: In Kent, the council to respond to the people and government needs, it decided to establish 3 community care homes. The towns are recorded with t

National income and welfare, NATIONAL INCOME AND WELFARE The relatio...

NATIONAL INCOME AND WELFARE The relationship between National Income and Welfare is best explained in terms of economic growth (By economic growth is meant capacity expansio

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd