1.1.3 Market positioning

Question 1

What is market positioning?

1

Answer 1

• Decide where a company position their brand relative to customer perceptions and positioning of rivals

Question 2

What is the main benefit of market mapping?

1

Answer 2

• Identify gaps (niches), ensure gap can be filled profitably

Question 3

What are the main ways competitive advantage can be achieved?
2

Answer 3

• Lowest cost operator

- Sustainable differentiation

Question 4

How can value be added to a product or service?

2

Answer 4

• Create image so attractive people pay more to be associated w brand (Dior)
• Wrap in special way