Definition of product differentiation in English:
noun[mass noun] Economics
The marketing of generally similar products with minor variations that are used by consumers when making a choice.
- For a marketing manager, product differentiation becomes a key to gaining a degree of monopoly power in a market.
- The sachet was an innovative stroke of marketing genius that reduced product differentiation and changed the dynamics of the detergents market.
- Traditionally, medical product companies have relied on product differentiation to achieve market position.