A Strategic Plan Should Be Thought of as a Process

question 28

True/False

A strategic plan should be thought of as a process rather than a final product.

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Definitions:

Positioning

Repositioning a product or brand means strategizing its place in the market and consumer's mind, often in relation to competitors, through marketing, design, and messaging.

Psychographic

Relating to the study of personality, values, opinions, attitudes, interests, and lifestyles of consumers to segment markets and understand consumer behaviors.

Self-values Map

A graphical representation that showcases the values an individual or a group holds dear, often used in marketing to understand customer motivations.

Positioning

The strategy of placing a brand or product in the consumer's mind over and against competitors in terms of attributes, benefits, price, and quality.