Explain what is meant by differentiated products and intra-industry trade.​

Intra industry trade refers to the exchange of similar products belonging to the same industry. The term is usually applied to international trade where the same types of goods or services are both imported and exported.

Product differentiation is what makes your product or service stand out to your target audience. It's how you distinguish what you sell from what your competitors do, and it increases brand loyalty, sales, and growth. Focusing on your customers is a good start to successful product differentiation.