Answer to Question #266462 in Marketing for Cutieko22

Question

It is it possible for a product with no distinct differentiating feature to be successful in the market?

Answer 1

Product differentiation is when you develop a product so that customers believe that they are different from similar, competing products. When trying to differentiate a product from its competitors, customer perception is everything. Product differentiation is often used to set standards in the market and project a product as a superior choice. In other words, it makes the product stand out from all the available competitors in the market. As such, when a product has no specific differentiating feature, it fails to be successful since when a standard is set in a product, it boosts sales. In this regard, consumers like when their expectations are met through distinguishing the product features.

This is because the importance of differentiation in business is clear as it helps companies develop unique positions within competitive industries or markets, thereby enabling them to thrive and therefore without a distinct differentiating feature your product won’t be able thrive in the market.  Many business owners try to create companies that mean all things to all men, but that's a largely impossible aim.