Kotler & Keller (2016), in their book Marketing Management, product is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. Products can be differentiated in form of the size, shape, or physical structure of a product. Here, most products can be offered with varying features that supplement their basic function.
We analyze the relationship between product differentiation strategies and profitability for different categories of producer goods industries classified according to the extent of buyer search (Sashi & Stern, 1995). There are many ways to distinguish products and ways that Nepali entrepreneurs attempt to differentiate products are explained below.
Performance Quality, most products occupies one of four performance levels: low, average, high, or superior. Performance quality is the degree at which the product’s primary characteristics operate. For instance, Alpine Coffee Estate, situated in the foothills of Nuwakot, 35 Kilometers north from Kathmandu, is the farm focused on producing the best caliber, single Estate coffee in Nepal. Filter Grind Coffee, Whole Beans Coffee and Espresso Grind Coffee are some product differentiation of Alpine Coffee Estate.
Conformance Quality Buyers expect a high conformance quality, the point to which all produced units are identical and meet promised specifications. For instance, Sherpa Adventure Gear was established in May of 2003 by Tashi Sherpa, weaving together the latest patterns and technology with the rich heritage and time honored beliefs of Nepal. From the highest heights of the Himalayas, they promise on saying that they lead the world of mountaineering with warmth, good will and honest temper.
Strength, a quantity of the product’s expected operating life under natural or stressful conditions, is a valued attribute for vehicles, kitchen appliances, and other long-lasting goods. For instance, Nepal made Goldstar shoes seem to be more popular among people inside and outside Nepal. They promise on their shoes that are very comfortable, light weight, durable and cheap.
Reliability, buyers normally will pay a premium for more reliable products. It is a measure of the probability that a product will not malfunction or fail within a specified time period. For instance; Daraz is Asia’s fastest growing online marketplace, offering an unparalleled shopping experience in Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal. Daraz delivery is also very reliable. It ships products to most of the cities of Nepal.
Style describes the product’s look and feel to the buyer and creates distinctiveness that is hard to copy. For instance, Phalano Luga is distinctly Nepali. They produce quality 100% cotton; organic cotton and cotton blend t-shirts which are made in Nepal. They also have created over 700 different designs ranging from creative drawings of the Nepali flag to witty catchphrases and colloquialisms.
Customization or say customized products and marketing allow firms to be highly relevant and differentiating by finding out exactly what a person wants and doesn’t want and delivering on that. For instance, Foodmandu.com is the first online shopping site in Nepal for food. They deliver foods from popular restaurants in Kathmandu to our doorsteps. You can order our favourite foods and cuisines through online ordering from Foodmandu’s site or mobile app.
References
Kotler, P., & Keller, K. L. (2016). Marketing Management . Boston: Pearson.
Sashi, C. M., & Stern, L. W. (1995). Product differentiation and market performance in producer goods industries. Journal of Business Research, 33 (2), 115-127.
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Kotler & Keller (2016), in their book Marketing Management, product is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. Products can be differentiated in form of the size, shape, or physical structure of a product. Here, most products can be offered with varying features that supplement their basic function.
We analyze the relationship between product differentiation strategies and profitability for different categories of producer goods industries classified according to the extent of buyer search (Sashi & Stern, 1995). There are many ways to distinguish products and ways that Nepali entrepreneurs attempt to differentiate products are explained below.
Performance Quality, most products occupies one of four performance levels: low, average, high, or superior. Performance quality is the degree at which the product’s primary characteristics operate. For instance, Alpine Coffee Estate, situated in the foothills of Nuwakot, 35 Kilometers north from Kathmandu, is the farm focused on producing the best caliber, single Estate coffee in Nepal. Filter Grind Coffee, Whole Beans Coffee and Espresso Grind Coffee are some product differentiation of Alpine Coffee Estate.
Conformance Quality Buyers expect a high conformance quality, the point to which all produced units are identical and meet promised specifications. For instance, Sherpa Adventure Gear was established in May of 2003 by Tashi Sherpa, weaving together the latest patterns and technology with the rich heritage and time honored beliefs of Nepal. From the highest heights of the Himalayas, they promise on saying that they lead the world of mountaineering with warmth, good will and honest temper.
Strength, a quantity of the product’s expected operating life under natural or stressful conditions, is a valued attribute for vehicles, kitchen appliances, and other long-lasting goods. For instance, Nepal made Goldstar shoes seem to be more popular among people inside and outside Nepal. They promise on their shoes that are very comfortable, light weight, durable and cheap.
Reliability, buyers normally will pay a premium for more reliable products. It is a measure of the probability that a product will not malfunction or fail within a specified time period. For instance; Daraz is Asia’s fastest growing online marketplace, offering an unparalleled shopping experience in Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal. Daraz delivery is also very reliable. It ships products to most of the cities of Nepal.
Style describes the product’s look and feel to the buyer and creates distinctiveness that is hard to copy. For instance, Phalano Luga is distinctly Nepali. They produce quality 100% cotton; organic cotton and cotton blend t-shirts which are made in Nepal. They also have created over 700 different designs ranging from creative drawings of the Nepali flag to witty catchphrases and colloquialisms.
Customization or say customized products and marketing allow firms to be highly relevant and differentiating by finding out exactly what a person wants and doesn’t want and delivering on that. For instance, Foodmandu.com is the first online shopping site in Nepal for food. They deliver foods from popular restaurants in Kathmandu to our doorsteps. You can order our favourite foods and cuisines through online ordering from Foodmandu’s site or mobile app.
References
Kotler, P., & Keller, K. L. (2016). Marketing Management . Boston: Pearson.
Sashi, C. M., & Stern, L. W. (1995). Product differentiation and market performance in producer goods industries. Journal of Business Research, 33 (2), 115-127.