To Effectively Position a Product or Brand, Companies Take Four

question 215

Multiple Choice

To effectively position a product or brand, companies take four steps: (1) identify the important attributes for the product or brand class; (2) __________; (3) discover where the company's product or brand is on these attributes in the minds of potential customers; and (4) reposition the company's product or brand in the minds of potential customers.

• A)decide whether to keep or delete the market segment that your product offering targets
• B)identify the competitors' brands that make up the consideration set
• C)identify market niches that were not selected during the market segmentation process
• D)discover how target customers rate competing products or brands with respect to these attributes
• E)create a marketing plan based on customers' perceptions

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Definitions:

Power Distance

A cultural dimension that reflects the extent to which less powerful members of organizations and institutions accept and expect that power is distributed unequally.

Social Distance

The level of acceptance and comfort between individuals within a community or society, often influencing social interactions.

Organizational Structure

The system of tasks, workflows, reporting relationships, and communication channels that define how activities are directed to achieve the goals of an organization.

Non-verbal Behavior

Communication without words, involving gestures, body language, and facial expressions, among other cues.