Finding sources of differentiation is an important step in marketing and business strategies. Differentiation involves setting yourself apart from the competition, whether it be through a unique product offering, pricing structures, or customer service models. Differentiation can give any business an edge in today’s competitive market.
How to find Sources of Differentiation?
1) Understand your customers: Customers are key when considering sources of differentiation. Knowing who your customers are and what they want will help you identify opportunities to differentiate yourself from competitors and create loyal customers by providing them with something that other companies don’t have. Take time to understand the needs of existing customers as well as potential future ones to develop products or services that meet those needs better than your competitors do. You may also consider segmenting different types of customers so that you can provide specialized offers for each group.
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