Business differentiation is a unique system that allows you to offer high value to your customers at lower prices, resulting in the creation of a win-win scenario for boosting the enterprise’s viability and profitability. In this case, we provide you with the top five easy to implement ways for differentiating your enterprise.
This is the most popular method of differentiating your business. It involves physical and perceived differences about your product. The differentiation can take the form of performance, features, or efficiency depending on the nature of your product.
When dealing with product differentiation, you need to appreciate that it is short-lived. For example, some businesses duplicate innovations from other products to gain a competitive advantage because the global copyright and patent production laws differ from one country to another. So, you need to be as innovative as possible to stand out and use every effort to protect your products.
Service differentiation, unlike product differentiation, is relatively broader. Indeed, it surpasses delivery and customer service to include most supporting elements of an enterprise, including staff training, installations, and ease of placing orders. The goal is ensuring that your products can easily be identified irrespective of where your operations are. Think of a business like MacDonald’s. Whether you are using its products in Texas, Shanghai or Moscow, the services are pretty the same. Now, target making your business equally unique with a focus on quality so that clients can keep coming back for more and refer others.
When working on business differentiation, it is important to also work on ensuring your products get to the customers on time. This means you need a good distribution network so that your clients can access the products as promptly as possible. A manufacturer, as demonstrated here might opt to link online e-commerce unit with local dealers for faster deliveries.
Distribution differentiation should also include prompt access to expertise and ease of ordering. Furthermore, you also need to install good customer service that can promptly solve all customer issues.
Even as you focus on service and product differentiation, it is also crucial to ensure your brand stands out from others. Notably, brand image is built by things such as providing high levels of service, top performance, and superior product quality. You should also develop a good mission and logo that your enterprise can be associated with. For example, who does not know the Nissan logo?
If you want to be successful in business, make sure that your products, services, and brand stand out well. Besides, you should target to progressively improve the product, and build good relationships with the target customers.