Final answer:
Marketing mix characteristics, particularly in the form of intangible aspects and advertising, play a significant role in differentiating products in the minds of consumers, even when physical differences are minimal.
Step-by-step explanation:
Marketing mix characteristics can differ based on several aspects, such as the physical nature of the product, its location, and even more so on intangible aspects of the product. Intangibles include elements like guarantees of satisfaction, reputation for high quality, additional services like free delivery, and financial accompaniments such as offering a loan for the purchase. Furthermore, product differentiation often takes place in the subjective domain of the buyers' minds, fueled by habits and advertising efforts that shape brand preferences, even when the physical differences between products are negligible.
For instance, without visual cues, many people might not discern between various brands of common products like ketchup or mayonnaise, yet they exhibit a strong brand loyalty based on perception influenced by factors beyond the product's physical attributes. This demonstrates the power of intangible qualities and advertising in creating a differentiated product in the marketplace.