Economic Geography
Product differentiation is a marketing strategy that involves distinguishing a company's offerings from those of competitors in order to attract a specific target audience. This can be achieved through various means such as design, features, quality, or branding. In international trade, product differentiation plays a crucial role in determining competitive advantage and influencing trade patterns by allowing firms to cater to diverse consumer preferences across different markets.
congrats on reading the definition of product differentiation. now let's actually learn it.