A differentiation strategy is a marketing technique used by manufacturers and businesses to establish a strong identity in a specific market. This involves positioning a brand in a unique way that distinguishes it from its competitors.
Line extension refers to the addition of another variety of a product to an already established brand line of products. This strategy helps brands to capitalize on their existing reputation and market base, offering consumers more options while remaining under the trusted umbrella of the original brand.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.