Hi Professor,

Differentiate is an important strategy in business, it means $$to mark or show a difference in : constitute a contrasting element that distinguishes $($Definition of Differentiate, $2019).$ This tends to be a resource used to help companies in a market difference themselves from a competitor. IT can also be categorized as Red Ocean Strategy, in which the business is looking for a niche or target audience to attract so that they have a better advantage over their competitors. There are many external factors that can regulate the nature of competitors within an industry and those are changes in technology and number of suppliers. If the number of suppliers reduces, it will cause a shift in supply and demand. This will make product higher in price.