Evidence of Corporate or Product Differentiation
Product differentiation is the process used by firms to distinguish their products from others and make products more attractive and competitive in the market as argued in (Blazenko & Vandezande, 2003). Increased competitive pressure has encouraged firms to differentiate their services and products. After a visit to Wal-Mart and a bank branch, one of the evidence of corporate or product differentiation is on functional features of the employees.
The employees in the bank branch are friendly and willing to assist customers as compared to other branches. Having friendly employees has been seen as a unique position for the branch which has brought out the objective of differentiation. Employees are readily available whenever needed and the customers receive satisfaction for services offered.
The difference in design and features is further evident in the arrangement of banking hall which has been furnished with fancy desks and chairs for the customers. The desks are unique and fancier compared to other banks and it shows the difference in quality. All counters in the bank are made of marble which differentiates them from other banks offering same services.
Products offered by Wal-Mart are of high quality compared to others. This has brought the difference in quality leading to difference in prices. The prices of the products are reasonable and friendlier compared to same products from their competitors. The employees are friendly and services offered after sales makes it unique. Labeling and pricing of products makes it easy for the customer to choose products without asking for much assistance from the employees.
The customers are able to clearly differentiate services and products offered by Wal-Mart from the same products offered by competitors. The difference has been a source of competitive advantage and it has demonstrated a unique aspect of products and services offered.