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Business 404 Book: Competitive Advantage by Michael E. Porter, text Chapter 4 – Differentiation 1. What...

Business 404

Book: Competitive Advantage by Michael E. Porter, text Chapter 4 – Differentiation

1. What does differentiation allow?

2. What are the three typical signaling criteria?

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Answer #1

Answer: (1) Differentiation allows a marketer to tailor its products specifically as per the needs of the target audiences. It enables the creation of features that are different from the competitors and provide more value to the customers. Differentiation therefore allows the companies to target the customer segments where the company can gain a competitive advantage because of better features and demand a premium price from the customers as their products create more value for them. Hence differentiation allows the creation of the competitive advantage that results in above average profits for the companies.

(2) The three criteria that signal differentiation are

  • Distinctness from the competition, this means that the products are unique
  • Inimitably meaning that they cannot be easily copied by the competitors
  • Valuable which means that the products are valued by the customers
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