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

Investment demand theory , In the national income analysis, investment ref...

In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure

Marginal and average cost, In the city of Gelato the market for ice cream i...

In the city of Gelato the market for ice cream is perfectly competitive. Aggregate demand for ice cream is: where p is the price for one cone of ice cream. All ice cream pr

Ab, isoquant and its properties

isoquant and its properties

Managerial Economics helps create utility for the Society. , Managerial Eco...

Managerial Economics helps create utility for the Society.

Diseconomies of scale, what are the four factors that lead to diseconomies ...

what are the four factors that lead to diseconomies of scale.

Price, break event point

break event point

Production-possibilities, a) A change in demand means that: b) On the pr...

a) A change in demand means that: b) On the production-possibilities drawing, unemployment is represented by:

Morris model, explain critically growth maximisation model of morris ?

explain critically growth maximisation model of morris ?

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