how can companies differentiate products?
TRANSCRIPT
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Setting Product Strategy
How can companies d i f f erent iate products?
Presentation byDivyasree P K
IIT Madras
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DIFFERENTIATION
N. Distinguish to make something more attractive to a target group
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Product Differentiation
Valid within the same company same company
as well aswith the competitors
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1 Form
Size
Physical Structure
Shape
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Physical structure
Medicines come in tablet as well as liquid form
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1 FormSize
Sachet packaging is mainly aimed mainly aimed at the rural market
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Shape
Standee pouches contributed majorly to differentiate Paper Boat from other carton or bottle based fruit drinks
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2 Feature
Air 11’’
Pro 15’’
Air 13’’
Apple incorporated varying features in Macintosh laptops to develop Air and Pro product lines
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3 Customisation
Mass Customisation
EQUALSEQUALSCustom made
PLUS Low unit cost of mass production
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Differentiation is delayed…
…Till the lastestpossible point in supply chain
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Caters the customers dissatisfied with off-the rack garments
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Hewlett – Packard
Replaceddedicated power supply in LaserJet printers with universal power supply
Tackled regional imbalances in supply demand effectively
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Customized DeskJet printers at local distribution center and not at the factory
Hewlett – Packard
Drop in shipping and inventory costs
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THIS.. translates to an improved and
differentiatedcustomer experience
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4 Performance Quality
Premium product
PERFORMANCE
Mid price product
Popular product
PRICE
PERFORMANCE
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5 Conformance Quality
High consistency in expected performance expected performance across all the produced units
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6 DurabilityExplains the dominance of Nokia in Indian market
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7 Reliability
INCREASED probability of
NO NO failure
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VOLVO = Reliability…
.. is differentiated to be a premium product in automobile industry
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8 Style
Aesthetics is a KEY differentiator for luxury brands
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ServiceDifferentiation
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1 Ordering Ease
How easy is it to place an order?
User friendliness of the mobile appmobile app
Good customer service at the call center
Availability of taxis
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2 Delivery
Speed & Quality are the riding factors
offer 20% discount for 10 minutes late delivery of concrete
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3 Installation
N. Makes the product operational
Ease of installation &Accompanying personnel
are great differentiators
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4 Customer Training
To enable the customer use the equipment properly
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5 Customer Consulting
Encompasses the services seller offers to the buyer
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6 Maintenance & Repair
To ensure that the purchased goods remain in good working order
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7 Returns
A deterrant to online sales, mainly!
Improve logistics to eliminate controllable returns
Develop processes for handling uncontrollable returns