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Selecting a Hypothetical Product and Market Setting, Describe How a Business

question 62

Essay

Selecting a hypothetical product and market setting, describe how a business marketing manager might use product positioning analysis to examine the competitive position of a product. Drawing on your illustration, suggest the product strategy implications.


Definitions:

Decision Making

The cognitive process of selecting a course of action among several alternatives to achieve a desired outcome.

Reasoning

refers to the cognitive process of looking for reasons, engaging in logical thinking, and arriving at conclusions based on premises.

System II Thinking

A cognitive process that involves analytical, effortful, and logical thinking as opposed to quick, instinctual, and often biased System I thinking.

System I Thinking

A term from dual-process theory referring to fast, automatic, emotional, and subconscious thought processes.

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