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. The concept was proposed by Edward Chamberlin in his 1933 Theory of Monopolistic Competition.
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“Out of the thousand writers huffing and puffing through movieland there are scarcely fifty men and women of wit or talent. The rest of the fraternity is deadwood. Yet, in a curious way, there is not much difference between the product of a good writer and a bad one. They both have to toe the same mark.”
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