Chapter 11: Setting product strategy

How can companies differentiate products?By:

Kartik SinglaIndian Institute of Technology(BHU), Varanasi

“Various criteria for product differentiation”

1. FORMDifferentiating products on the basis of size, shape, or physical structure.

2. FEATURESDifferentiating products on the basis of various features offered along with their basic function.

Fully featured Range-rover

3. CUSTOMIZATIONDesigning the products or programs according to the requirement of each customer.

4. PERFORMANCE QUALITY

Differentiating on the basis of performance levels: low average high superior.

5. CONFORMANCE QUALITY

Differentiating on whether all the produced units are identical and meet promised specifications.

6. DURABILITY

Differentiating the products

on the basis

of expected product life under natural and stressful conditions.

7. RELAIBILITY

Dividing the products on the measure of probability that a product will not malfunction within a specified time limit.

8. REPAIRABILITYClassifying the products on the basis of the ease of fixing when a product fails.

Smart phones have high reparability scores.

9. STYLEDifferentiation of the products on the basis of its looks or its aesthetic value.

Stylish apparels help to present oneself better.

“These slides were prepared by ‘Kartik Singla’

as a part of an internship done under ‘Prof. Sameer Mathur’ (www.IIMInternship.com).”

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