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

Theories associated with different market structures, Theories associated w...

Theories associated with different market structures A firms profit maximising output decisions take into account the market structure under that they operate. There are 4 type

Estimating economic relationships, Estimating economic relationships M...

Estimating economic relationships Managerial economics estimates economic relationships between various business factors likeelasticity of demand, income, profit analysis, cos

Explain about labour economies, Q. Explain about Labour Economies? Lab...

Q. Explain about Labour Economies? Labour Economies: As the size of output increases the firm enjoys labour economies because of (a) specialisation, (b) time-saving (c) autom

Externality in economics, Explain the concept of externality in economics? ...

Explain the concept of externality in economics? Give one example of a positive and a  negative externality in Australia.

Excise tax and its impact on manufacturing industry, excise tax and its imp...

excise tax and its impact on manufacturing industry with respect to demand and supply curves

Presentation, to give presentation on the topic: shutdown and abandoned cos...

to give presentation on the topic: shutdown and abandoned cost analysis?

Theory of comparative advantage, THEORY OF COMPARATIVE ADVANTAGE In hi...

THEORY OF COMPARATIVE ADVANTAGE In his theory put forward in a book published in 1817, David Ricardo argued that what was needed for two countries to engage in international t

Types of pricing, example problems for the types of pricing

example problems for the types of pricing

Describe about theory of firm, Q. Describe about Theory of Firm? Theory...

Q. Describe about Theory of Firm? Theory of the firm is associated to comprehending how firms come into being, what are their objectives, how they act and enhance their perform

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