Market Positioning Flashcards
1
Q
What is market positioning?
A
MP is concerned with the perceptions consumers have about products
Consumers categorise products according to certain factors- these define a products position in a market
Firms will plan activities to shape consumer perceptions to achieve a desired position
2
Q
How can a business find out where they are positioned?
A
Through market research and present In market map
A mm is a map that identifies all products in a market using 2 features (price/quality)
3
Q
What are advantages of market mapping?
A
Identifies a gap in the market
Helps analyse competition
Encourages market research
4
Q
What are disadvantages of market mapping?
A
Research may not be reliable
Just cus there is a gap doesn’t mean there is demand
