Final answer:
Product differentiation dimensions in a product market encompass both tangible features, such as product specifications, and intangible aspects like brand reputation and advertising, which collectively influence customer purchasing decisions.
Step-by-step explanation:
In a product market, the segmenting dimensions that influence a customer's decision to purchase a specific product are called product differentiation dimensions. Product differentiation can be based on both tangible and intangible aspects.
Tangible aspects of a product include those you might hear about in advertisements, such as an 'unbreakable bottle', 'nonstick surface', or 'freezer-to-microwave' capability. These features can greatly influence buyer decisions because they offer concrete benefits and improvements to usability or durability.
Intangible aspects, on the other hand, include elements like the promise of satisfaction or a money-back guarantee, the reputation for high quality, services like free delivery, or even the offer of a loan to purchase the product. Advertising plays a significant role in shaping these intangible preferences, forming strong brand loyalties in customers' minds—sometimes even when they cannot discern a tangible difference in the product itself.