Market Positioning Flashcards
Added value
The extra features that may be offered by a business when selling a product such as high quality customer service, which helps exceed customer expectations
Competitive advantage
An advantage that enables a business to perform better than its rivals in the market
Market maps
Typically a two dimensional diagram that shows two of the attributes or characteristics of a brand and those of rival brands in the market
Market positioning
The views consumers have about the quality, value for money and the image of a product in relation to those of competitors
Product differentiation
An attempt by a business to distinguish its product from those of competitors
Reposition
Change the view consumers have about a product by altering some of its characteristics
Unique selling point
The aspect of feature of a product that clearly distinguishes it from its rivals
