Describe Product Positioning

question 103

Essay

Describe product positioning. List and explain the bases for positioning.

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Definitions:

Undisclosed Principal

A person who remains unknown to a third party while being represented by an agent in a transaction or agreement.

Disclosed Principal

A principal whose identity is known to the third party at the time a contract is entered into by the agent on behalf of the principal.

Partially Disclosed Principal

A principal whose identity is unknown by a third party, but the third party knows that the agent is or may be acting for a principal at the time the agent and the third party form a contract.

Nonperformance

The failure to fulfill a contractual obligation or carry out an agreement as specified.