Product – Room for rent in Singapore
It is about a tangible object or an intangible product. Intangible products are services provided just like the real estate agency business. Salespersons do not build properties for sale. Their business is mainly to provide the services to sell/lease properties for owners/landlords. Room for rent in Singapore.
Typical example of tangible objects in the real estate industry is that of a developer building Condos for sale. Packaging also needs to be taken into consideration such as the design of the building, the size of the units available and the design of the interior including the decoration.
To retain its competitiveness in the market, product differentiation is required and is one of the strategies to differentiate a product from its competitors. The developer has to decide whether his Condo is going to cater for the high end or it is going to appeal to the mass market.
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