Market Segmentation and Product Positioning:
Companies such as Hero Honda, Bajaj Auto and Videocon invest precious resources to develop and then shepherd their new products through the product life cycle. Here we examine how a company can differentiate its market offering along five dimensions as per the following table: Physical products vary in their potential in differentiation.
High degree of differentiation has been exhibited in motor cycles, by Hero Honda, Bajaj Auto and TVS and each company has not only differentiated its products in terms of quality and aesthetic property, but also has priced the products differently.
Physical products are differentiated in terms of: When the physical product cannot be differentiated easily, the key to competitive success may be achieved by value-addition in services and improving their quality.
The main service differentiators are as follows: Ordinary Ease — Customer can place order at ease.
Customer — Data, Information Systems provided by Consulting supplier. Maintenance — Providing maintenance manual and critical and repair spare parts for up keeping machines. Companies can gain a strong competitive advantage through having better trained personnel.
Singapore Airlines enjoys an excellent reputation because of its excellent flight attendants.
Eureka Forbes is a profitable company because of its well trained Sales Force provides satisfying services to the customers. Companies can achieve competitive advantage through the way they design their distribution channel: Coverage, expertise and performance. In India, Coca-Cola and Pepsi have outsmarted their Indian rivals due to their excellent distribution network through the length and breadth of the country.
Customers respond differently to company and brand images.
Identity comprises the ways that a company aims to identify position itself or its product, whereas image is the way the public perceives the company or its products.
For the image to work, it must be conveyed through every available communication vehicle and brand, contact, including logos, media and special events.High degree of differentiation has been exhibited in motor cycles by Hero Honda from MARKETING 12 at Kazakhstan Institute of Management, Economics and Strategic Research.
Examples of suceesful organizations are Examples of the successful use of a differentiation strategy are Hero Honda, Asian Paints, HLL, Nike athletic shoes, Perstorp BioProducts, Apple Computer, and Mercedes-Benz automobiles. New Honda Civic Hatchback for Sale - CarGurusObjective Market Value · Fast Powerful Search · Ratings You Can Trust · Market Price Analysis.
From to , Hero Honda grew to become the world's largest motorcycle company. Then the partners divorced, with Hero getting the company and the use of Honda's designs until the end of Product differentiation means differentiating products in regard to physical characteristics, quality, design, colour and durability, packaging, and advertising theme and so on, so that the consumer will have different choices of the products.
Examples of product differentiation including design, customer service, and price.
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Some of the major dimension through which a company can differentiation it’s market offerings are as follows: (a) Product Differentiation (b) Services Differentiation (c) Personnel Differentiation (d) Channel Differentiation (e) Image Differentiation. Companies such as Hero Honda, Bajaj Auto and. Examples of the successful use of a differentiation strategy are Hero Honda, Asian Paints, HLL, Nike athletic shoes, Apple Computer, and Mercedes-Benz automobiles. Research does suggest that a differentiation strategy is more likely to generate higher profits than is a low cost strategy because differentiation creates a better entry barrier. Examples of suceesful organizations are Examples of the successful use of a differentiation strategy are Hero Honda, Asian Paints, HLL, Nike athletic shoes, Perstorp BioProducts, Apple Computer, and Mercedes-Benz automobiles.
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