Problem: Product Differentiation
You are the owner of Lobster's Unlimited. You have no trouble catching lobsters, but you have dif?culty in selling all that you catch. The problem is that all lobsters from all vendors look the same. You do catch high-quality lobsters, but you need to be able to tell your customers that your lobsters are better than those sold by other vendors.
1. What are some possible ways of distinguishing your lobsters from those of other vendors?
2. Explain the possible results of this differentiation.