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504: Market Research for Product Innovation – with Chip Chomyn
Global Product Management Talk
Value Lies in Differentiation, Not Price
The essence of product differentiation lies in understanding customer needs and preferences. Not every consumer seeks the cheapest option; some prioritize comfort and functionality over price. Those who write frequently may suffer physical discomfort and find the convenience of an integrated eraser appealing, leading them to value more expensive, ergonomically designed products. It is crucial to target customers who recognize and appreciate these differentiated features rather than attempting to compete solely on price with budget-conscious consumers.
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