Strange Differentiation allows inferior Products to successfully sell into Niche Markets. A Product may be objectively inferior but offer a unique variation that is valued by a small number of Customers. Niche strategies work even when the Product's Price is high relative to the Customers Willingness To Pay (WTP).
Uses the KNIME Extension: Market Simulation by Scientific Strategy - Community Edition
A comprehensive description of this workflow with step-by-step instructions can be found at the Scientific Strategy website:
https://scientificstrategy.com/bb-151/
Workflow
[Building Blocks] BB-151 Selling an Inferior Good with Strange Differentiation
Used extensions & nodes
Created with KNIME Analytics Platform version 4.3.0
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KNIME AG, Zurich, Switzerland
Versions 3.6.0, 4.3.0
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Decision Ready, LLC
Version 4.3.0
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