What Is the THIRD Step in the Positioning Process

question 5

Multiple Choice

What is the THIRD step in the positioning process?

• A) Create a positioning statement focused on the benefits and value that the product provides.
• B) Determine the target market's preferred combination of attributes.
• C) Define the market in which the product or brand competes, relevant buyers and competitors.
• D) Develop a distinctive, differentiating, value-based positioning concept.
• E) Research how consumers perceive competing offerings on relevant attributes.

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Definitions:

Expected Value

The anticipated value of a variable, calculated as the sum of all possible values each multiplied by the probability of its occurrence.

Health Care Costs

Refers to the expenses associated with medical services, including prevention, treatment, rehabilitation, and health maintenance.

Buying A Warranty

The act of purchasing a guarantee, typically from a manufacturer, that a product will be repaired or replaced if it fails within a certain period of time.

Avoid Risk

The strategy of making decisions that minimize the possibility of experiencing negative outcomes.