Differentiation

In economics and marketing, product differentiation (also known simply as “differentiation“) is the process of distinguishing a product or offering from others, to make it more attractive to a particular target market. This involves differentiating it from competitors’ products as well as a firm’s own product offerings.Wikipedia

There are 2 ways to compete; you can either compete on price or on differentiation. Competing on price is not the best approach, there are no winners in price wars and there is always someone willing to go broke before you.

The key to differentiation

The key to differentiation is to differentiate yourself and your brand so much that you are the only ‘go to’ person for your services. DifferentiationWhat do I mean by that? I mean you must offer an unmatched mix of products, services and value because without this, your strategy is just another marketing slogan and you will become a ‘me too’ provider.

Brand differentiation can take many forms, for example, you can differentiate your customer experience, your product or service, technology, your competitive advantage, your image, your target market or innovation.

Typically business owners don’t like to differentiate themselves too much in fear of losing potential business …big mistake.

If you would like to differentiate yourself in the marketplace, contact us via the contacts page for a free marketing assessment.

If you would like help with differentiation in the marketplace, contact us via the contacts page for a free marketing assessment.