What is real product differentiation and imaginary product differentiation?

Product differentiation is when a company tries to create a different appeal to a product that exists among other competitors. This process of creating a marketable difference can increase the...

For example, product differentiation might be necessary when a new laundry detergent is advertised.

A company that excels at product differentiation can normally demand a higher price for a product because of its perceived higher quality.

Advantages: Brand Loyalty, First-mover Disadvantage: High Costs,

Product diversification means that you will have several different types of products for sale, such as selling school supplies as well as toiletries. I think product differentiation means that you...