Explore the concept of monopolistic competition, where numerous firms compete with differentiated products in a market with low entry barriers. Learn how this affects consumers and businesses alike.
Uncover the strategy of versioning in business, where companies produce varied models of the same product at different price points. Learn how it impacts consumer choice and company profits.
Delve into what value-added products are and how businesses leverage them for competitive advantage, driving consumer interest and enhancing profitability.
Explore what an augmented product is, its significance in marketing, and how it enhances customer value and experience beyond the core and actual product aspects.
Explore the essentials of product differentiation, its strategies, and its impact on consumer choice and competitive landscape in the market.
