Question

The purpose of __________ is to create real or perceived product differences. Group of answer choices niche marketing product differentiation product mixing target marketing

Answer 1

The purpose of "product differentiation" is to create real or perceived product differences.

What is product differentiation?

Product differentiation improves brand loyalty, sales, and growth by differentiating what you sell from what your rivals provide.

The significance of product differentiation-

• It creates a competitive advantage and make your product is superior to alternatives on the market.
• Effective product differentiation highlights the special advantages of your products or services.
• It helps to narrow down your audience depending on what they prefer and what you offer.
• You have a differentiated product that offers value to customers when you better match a product's advantages to what your target audience desires than your rivals.
• It helps to enhance brand loyalty and can achieve higher price points.

To know more about the aspects of brand equity, here

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