1.1.3 Market positioning Flashcards
1
Q
define positioning
A
where a product is placed in the market relative to its competition
2
Q
marketing mix 4ps
A
price place product promotion
3
Q
pro’s
A
- helps spot gaps
- analysing competitors
- encourages use of market research
4
Q
con’s
A
- no guarantee of success
- not reliable
- may not be demand
5
Q
influences on positioning
A
- internal constraints (budgets)
- internal strengths (innovation)
- market conditions
- external environment
6
Q
market positioning strategies
A
- offer more for less
- offer more for more
- offer more for same
- offer less for less
7
Q
define competitive advantage
A
when a business differentiates themselves from competition allowing the business to perform more successfully in the market
8
Q
factors contributing
A
- product differentiation
- ability to add value
