When a product is differentiated across companies a company have a lower chance of losing customers when it raises the price of its product.
Product differentiation in economics and marketing refers to the practice of setting one good or service apart from others to increase its appeal to a specific target market. This entails setting it out from both products made by other companies and other offerings from the same company.
The trait or characteristics that set your product or service apart for your target market are known as product differentiation. It helps you set yourself apart from your competitors and boosts brand loyalty, sales, and growth.
2. A fabric mill merges with a pants factory will be considered to be a vertical merger.
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