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

Construction of an explanatory model, Q. Construction of an explanatory mod...

Q. Construction of an explanatory model? Construction of a sample:   To apply multiple regression a large sample is generally essential (ideally between 2,000 to 15,000 indivi

Show the uses of income elasticity, Q. Show the uses of income elasticity? ...

Q. Show the uses of income elasticity? A few significant uses of income elasticity are as follows: First, concept of income elasticity can be used to approximately compute t

Can identity economics explain some patterns , Can identity economics expla...

Can identity economics explain some patterns observed in the Australian economy

Marginal damage curve , Consider a model world which is subject to a risk o...

Consider a model world which is subject to a risk of global climate change. The damage is known to be from greenhouse gas (GHG) emissions as indicated by the marginal damage curve

What is external diseconomies, Q. What is External Diseconomies? The ex...

Q. What is External Diseconomies? The expansion of an industry is likely to generate external diseconomies that raise the cost of production. An increase in the size of industr

Commodity-related shortfalls in export earnings, A complementary facility f...

A complementary facility for commodity-related shortfalls in export earnings This is the most recent proposal of the Group of 77 at UNCTAD in June 1979.  There they requested

Causes of inflation, Causes of Inflation   At present three main expl...

Causes of Inflation   At present three main explanations are put forward: cost-push, demand-pull, and monetary. Cost-push inflation occurs when he increasing costs of prod

Cause the equilibrium, a)      The production-possibilities curve is? b)...

a)      The production-possibilities curve is? b)      If there is a shortage in the provider of a product, we can conclude that its price: c)      An enhance in supply and a

cost pricing and marginal cost pricing method, Discuss the full cost prici...

Discuss the full cost pricing and marginal cost pricing method. Explain how the two  methods differ from each other.

Pilgrim Bank Case, Your discussion assignment this week is associated with ...

Your discussion assignment this week is associated with the Pilgrim Bank case. Using the attached file, answer the following questions: A. Is there a difference in profitability ac

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