Differentiation strategies
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Transcript of Differentiation strategies
Differentiation strategies
Means of differentiation
Should be compelling to consumers
Related to aspects of the product and services
Means of differentiatio
n
Employee
Channel
Image
Services
Employee differentiation
Companies should have better trained employees who can provide superior customer service.
Channel Differentiation
Effective and efficient design of distribution channels’ coverage, expertise, and performance can make buying of product easier and more enjoyable and rewarding.
Image differentiation
Companies should craft powerful, compelling images that appeal to consumers’ social and psychological needs
Services Differentiation
A service company can differentiate itself by designing a better and faster delivery system that provides more effective and efficient solutions to consumers.
There are three level of differentiation :
Reliability
Resilience
Innovativeness
Emotional branding
It can also be a tool of differentiation
A person’s emotional response to a brand and its marketing will depend on brand’s authenticity.
Emotional branding
Three specific traits are :
Strong people-focused corporate culture
A distinctive communication style and philosophy
A compelling emotional hook
Emotional branding
Potential threats posed by competitors:
Share of market
Share of mind
Share of heart
“”
Companies that make steady gains in mind share and heart share will inevitably make gains in market share and profitability
Revision: Means of differentiation
Means of differentiatio
n
Employee
Channel
Image
Services
Shreya Shwetima
From- IIT Bombay
Thank you