1.1 Market positioning Flashcards
1
Q
Market positioning
A
the process where a business decides how it wants to position its product in the market
2
Q
Market map
A
diagram composed of two criterias used to place products in
2
Q
cons of market maps
A
just because there is a gap does not mean its guaranteed to succeed
Ignores external factors
2
Q
pros of market maps
A
encourages market research
simple to construct
2
Q
Product Differentiation
A
the process of distinguishing a product from that of a rivals
2
Q
competitive advantage
A
a relative advantage a businesses product has over that of a rival
