Differentiation is the positioning strategy of providing a product or service that is sufficiently different from competitors' offerings that customers are willing to pay a premium price for it.
Step-by-step explanation:
Market differentiation or simply differentiation in economics and marketing is the method of separating a market or service from others, to make it more appealing to a particular target market. It includes differentiating it from the products of competitors, as well as the products of a company's own. An illustration of this is a lawn-care service that is expected to do weekly maintenance costs less than any other advertised price. Differentiation between products is important in today's financial environment.