Product and Service Differentiation and Positioning (HSC SSCE Business Studies): Flashcards
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Product/service differentiation
Product/service differentiation
Developing & promoting differences from competitors' products
Main benefit of product differentiation
Main benefit of product differentiation
Greater control over marketplace, especially pricing
Four key points of differentiation
Four key points of differentiation
Customer service, environment, convenience, social/ethical issues
Three customer service expectations
Three customer service expectations
Personalised service, caring service, high quality & value
Environmental concerns as differentiator
Environmental concerns as differentiator
Green philosophy & eco-friendly products increase sales
Convenience as differentiator
Convenience as differentiator
Products that save time & effort for busy consumers
Ethical consumerism
Ethical consumerism
Buying products not harmful to environment, animals or society
Fair Trade movement
Fair Trade movement
Promotes fair wages, environment, poverty reduction, fair prices
Product/service positioning
Product/service positioning
Creating image/identity vs competitors in consumers' minds
Repositioning
Repositioning
Changing what customers associate with a brand