Week 5, Chapter 10, Post 2: Differentiation

In Chapter 10, on page 312, we see the term, "differention." The textbook defines this term as, "a more popular business strategy... which involves highlighting the unique or special qualities of a company's product or service.

This term is something I heard a lot of at the last place I worked. Since there were so many vendors vying for a contract with us, they had to find a way to differentiate themselves from similar companies. There were some botique market research businesses, some medium sized organizations and some large well-known corporations. They all in one way or another all did the same thing but their approach to their business as well as their interaction with contracting companies may have been the separating factor between them and another company. When it as time for us to choose the companies that we would renew contracts with or start a new contract with, we asked them to define their product and what differentiated them with a company that had the same product at perhaps a lower price.