It’s time for some shop talk as Leslie and Ben sit down with Ben’s campaign manager to discuss their strategy going forward in Ben’s election. Leslie takes a brief moment to note that shop talk is one of her favorite types of talk and then goes on to list the other types. This is a cute (and quick) introduction to the concept of product differentiation, where companies sell similar products with different attributes. Product differentiation can allow a company to charge higher prices for their products if people perceive value in the differentiation.
See more: preferences, product differentiation, subjective value