4 Ps of marketing differentiate in :
- product
- price
- place - distribution channels
- promotion
advantages to differentiation
- higher prices since product is distinctive
- brand awareness
- improves product placement, you get more distributers
- adds value to good or service
- prevents competition from entering
- competitive advantage, market leadership and dominance disadvantages
- expensive
- mass production is cheaper than niche, which is more likely to have usp
- unnecessary/wasteful competition (i.e. excessive packaging)