The term differentiation is the way in which a company highlights a unique quality that makes it special to its competitors. It seems to be a basic concept, but when it comes to finding that unique quality, many brands do not develop it correctly.
Many companies tend to believe that the most effective quality for which their product will differentiate is the price. In many cases this happens almost by mistake but does not make it an element of differentiation that really gives value to the product.
To differentiate the key lies in the deep knowledge of the strengths and weaknesses of your product or service. This will not only help you to know the value of your brand well, but more efficiently, you will find what will differentiate you from the competition.
Once we define well the characteristics that make up our brand, the next step is to know our client and the competition. What do people look for in my product / service? What does the competition offer? What are our potential customers? etc.
In summary, the study and knowledge about our product must be constant and always knowing what stands out for us above the competition. According to Phillip Kotler, there are 4 types of differentiation strategies:
At first glance it would seem easy to select a strategy and implement it. But it requires an internal analysis of the brand to have a clear vision of our possibilities.
It is very important to know who our clients are and to know what their needs are. It is not useful to select a quality of differentiation when it is not perceived or valued by a representative number of consumers. Currently, listening and knowing our clients is one of the most important activities that we must include in our daily marketing analysis to achieve the success of our brand.