Explain Why a Company May Need to Position Its Product(s)

question 60

Essay

Explain why a company may need to position its product(s).

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Definitions:

Problem Recognition

The initial stage in the consumer decision process where an individual realizes a difference between their current state and a desired state, triggering a search for information or a solution.

Consumer Purchase Decision

The process by which individuals identify their needs, gather information, evaluate options, and make the decision to buy a product or service.

Information Search

The process of gathering data and details about a specific subject or decision-making need.

Problem Recognition

The initial step in the consumer decision process where the consumer identifies a need or realizes the difference between the current and a desired state.