6. Reading Flashcards
1
Q
name of the reading
A
the anatomy of market positioning strategy
2
Q
author
A
roger brooksbank
3
Q
year
A
1994
4
Q
introduction
A
this reading covers the basic outline and concept of market positioning formulation
5
Q
research has stated that in order for a company to be successful over long period of time…
A
a company’s product and/or service must be well positioned
6
Q
positioning strategy
A
refers to the choice of target market segment in which a business seeks to serve
7
Q
there are 3 sub-concepts
A
- customer targets
- selecting competitor targets
- competitive advantage
8
Q
- customer targets
A
- critical role in market segmentation
- involves subdividing a larger market into smaller group
- usually differ, grouped in homogeneous segments and enables a firm to target a specific market
9
Q
customer targets: types of segmenting
A
- geographic (location)
- demographic (age, sex)
- psychographic (behaviour)
10
Q
- selecting competitor targets
A
- grouping a target market that will best show off their competitive advantage.
- all about aiming to satisfy a need/want better than its competitors
11
Q
- competitive advantage
A
- firm must decide how they are going to compete in the market
- must develop a competitive advantage that will differentiate them from competitors
12
Q
my reason for choosing this reading
A
- important step in the implementing process
- it is implemented as marketing mix
- in order to successfully create a marketing mix, there must be a clear understanding of what segment a company must target
13
Q
the main idea is….
A
to choose a segment where the company will be able to cater to and show their competitive advantage the best
