market positioning Flashcards

1
Q

what is market positioning concerned with

A

the perceptions consumers have about products

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2
Q

what do consumers do to simplify choices

A

categorise them according to a range of factors

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3
Q

what factors affect categories

A

quality
status
value for money

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4
Q

what do the factors define

A

a products position

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5
Q

how do consumers often position a businesses product

A

in relation to competitors

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6
Q

what are the forms consumers often position businesses by

A

pecking order
product ladder

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7
Q

what is a pecking order

A

some people or groups know they are more or less important than others

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8
Q

what is a product ladder

A

a range of products varying in price and features

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9
Q

why would firms plan marketing activities

A

to shape consumer perceptions and achieve a desired position

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10
Q

what approaches might a business use to position a product

A

benefits offered by the product
the USP
attributes of the product
origin of the product
classification of product

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11
Q

why do businesses reposition products

A

due to market changes in response to shifting customer demands

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12
Q

what does repositioning usually involve

A

changing
target market
features of product
or image of product so its separate from rivals

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13
Q

why might brands carry out market research

A

see where they are positioned in the market

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14
Q

why is it useful they know their positioning

A

to change marketing strategies to get more consumers than rivals

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15
Q

what may a business wish to do

A

launch a new brand

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16
Q

what would the business have to have decided about the new brand

A

target market
and do market research

17
Q

what would market research show

A

what characteristics the brand must have to succeed

18
Q

what could it reveal

A

prices customers are willing to pay
what promotional support will be needed

19
Q

what are the results of market research shown on

A

perceptual maps/ market maps

20
Q

what are the limitations of market maps

A