product differentiation

Noun

Meaning

(economics, marketing) Perceived differences between the product of one firm and that of its rivals so that some customers value it more.

(economics, marketing) The process of creating such differences.

Examples

Product differentiation practiced under this competition leads to wasteful expenditure. Source: Internet

;Product differentiation: Product may be homogeneous (steel) or differentiated (automobiles). Source: Internet

Close letter words and terms