How Can Marketers Use the Need Hierarchy in Making Product

question 82

Essay

How can marketers use the need hierarchy in making product positioning decisions?

Understand the relationship between production inputs and costs in the short run.

Analyze and interpret various cost curves and their shapes in the context of production and cost analysis.

Understand the concepts of economies of scale, diseconomies of scale, and constant returns to scale.

Identify the transitions between economies of scale to diseconomies of scale or constant returns through examples.

---

Definitions:

Points of Difference

Unique features or benefits of a product or service that set it apart from competitors in the eyes of consumers.

Brand Authenticity

The extent to which a brand is perceived as genuine, reliable, and true to its values, ethics, and promises to its consumers.

Poseur Brand

is a brand that attempts to project a certain image or status without genuine substance or authenticity to back it up.

Brand Improvisation

The ability of a brand to adapt spontaneously to changing market conditions or customer needs without losing its core identity.