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.
About the author
Adetunji Teejay Bolorunduro holds MSc in Economic Development from the prestigious Adam Smith Business School, The University of Glasgow, United Kingdom. He is a China-Africa Engagement Researcher. He is also a co-founder at Africacv and a Senior Researcher at Afriscaper.
WELCOME TO RICHTOPIA
- 2,784,806 all-time users
- 11 Amazing Examples of Disruptive Technology
- What Is Social Marketing? And How Does It Work?
- 17 Great Examples of Effective Leadership and Strategy
- 7 Wealth Habits of the World’s Richest People
- Business Etiquette Across Cultures (INFOGRAPHIC)
- British Entrepreneurs Top 100: From Richard Branson to J.K. Rowling, These Are the Most Influential Entrepreneurs in the UK