Product Differentiation and Advertising

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Product Differentiation and Advertising

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Presentation transcript:

Product Differentiation and Advertising Lesson 17 Section 68

How Firms Differentiate Their Products Differentiation by Style or Type McD’s vs BK Crest vs Colgate Differentiation By Location As the Real Estate agent says, location, location, location. Differentiation by Quality Hershey's vs Sees Candies

Controversies About Product Differentiation The Role of Advertising Advertising is only worthwhile in industries in which there is some market power Why does advertising work? Because people are irrational. Celebrities Story Brand Names Reputation Well known Has a stake in customer satisfaction Unjustified market power Charge more for brand name Attachment

Subliminal Advertising Advertising we do not consciously see, but unconsciously recognize. Subliminal advertising modifies our behavior without our conscious knowledge.

Can you see it?