A differentiated growth strategy is a business approach that promotes unique, distinct, and different product offerings as compared to competitors. The primary goal of enforcing differentiated growth is to boost the competitive advantage of the company. In other words, differentiated growth gives your customers a valid reason to prioritize your business over your competition.
To successfully implement a differentiated growth model, a business needs to analyze the following factors:
There are two types of differentiated growth strategies that can be implemented by a company:
Other than the two types of differentiated growth strategies mentioned above, there are 6 types of specific differentiated growth strategies. They are:
i) Product Features: the attributes and traits of the product that offer value to the customers
ii) Product efficiency: the ability of the product to offer value without wastage of other resources.
iii) Product performance: the level of fulfilment of the desired action by the product.
iv) Consumer feedback: the review and comments added by the customers who have used your product or service.
i) Order processing time: time taken by the company to accept the order and prepare it for dispatchment.
ii) Customer service method: types of communication method available to contact the customer care (email, phone, SMS, etc)
Delivery time: time taken by the logistics team to deliver the product to the end u