Topic 3 Flashcards
1
Q
Benefits of markets positioning
A
. Differentiation from other products
. Targets right audience
. Improved brand recognition and loyalty
2
Q
Methods to gain competitive advantage
A
- Product design
- Quality
- Customer service
- Delivery systems
- Flexibility
- Ethical stance
3
Q
Strategies for differentiation
A
. Design and packaging
. Extended product range
. Brand loyalty
. Customisation
4
Q
Methods of adding value
A
. Bundling
. Customisation
. Customer service
. Packaging
5
Q
Benefits to business of adding value
A
. Higher revenue -> premium pricing
. Increased customer satisfaction
. Strengthened brand image
