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Questions
Define product differentiation.
Define the following concept.
Product Differentiation
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Solution 1
Product differentiation refers to differentiating the products on the basis of brand, size, color, shape, etc.
Solution 2
According to Chamberlin, “A General class of product is differentiated if any sufficient basis exists for distinguishing the goods of one dealer from those of another. Such a basis may be real so long as it is of importance whatsoever to buyers and leads to a preference for any variety of the product over another”.
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