You can usually ignore social and psychological factors when planning to differentiate a product or service

Question

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Social and psychological factors play a crucial role in differentiating a product or service. It is important to understand the target audience's needs, preferences, beliefs, values, and emotions to create a unique value proposition that resonates with them. Ignoring social and psychological factors can lead to unsuccessful differentiation strategies, as the product or service may fail to meet the customers' expectations and demands.

You Can Usually Ignore Social and Psychological Factors When Planning