market positioning

Question 1

what is market positioning

Answer 1

how the product or service is seen in relation to competitors by consumers

Question 2

what is the importance of market positioning

Answer 2

may be a gap in the market for a product
to differentiate products
lots of competitors

Question 3

what is market mapping

Answer 3

method if showing products in relation to competition

so can see where there is a gap in the market for a specific product

Question 4

what is differentiation

Answer 4

making product different from competitors, making product distinct

Question 5

how can you differentiate product

Answer 5

unique features
unique use
better marketing
better branding

Question 6

what is the purpose of adding value

Answer 6

to make a profit businesses want to spend as little as possible ans sell for as much as possible

Question 7

how do businesses add value

Answer 7

packaging to make product more desirable
market product to make people want it
produce product in an efficient way