What is the term for a strategy that involves making a product different from other similar products?

The term that describes a strategy focused on making a product distinct from other similar products is differentiation. This approach is vital in a competitive market, as it helps a company stand out by emphasizing unique features, benefits, or branding that appeal to specific customer segments. Differentiation can manifest through various means, such as innovative design, performance, quality, or exceptional customer service, ensuring that a product not only meets but exceeds customer expectations compared to alternatives available in the market.

In a market saturated with similar offerings, differentiation allows a brand to foster a loyal customer base, command higher prices, and reduce the threat of price competition. It is crucial for businesses aiming to build strong market positions and enhance their value proposition to consumers.