the product, location from which it sells the product, intangible aspects of the product, and perceptions of the

product. We call products that are distinctive in one of these ways differentiated products.

Physical aspects of a product include all the phrases you hear in advertisements: unbreakable bottle, nonstick

surface, freezer-to-microwave, non-shrink, extra spicy, newly redesigned for your comfort. A firm's location

can also create a difference between producers. For example, a gas station located at a heavily traveled

intersection can probably sell more gas, because more cars drive by that corner. A supplier to an automobile

manufacturer may find that it is an advantage to locate close to the car factory.

Intangible aspects can differentiate a product, too. Some intangible aspects may be promises like a guarantee

of satisfaction or money back, a reputation for high quality, services like free delivery, or offering a loan to
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