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Explain the Concept of Positioning

question 150

Essay

Explain the concept of positioning.


Definitions:

Closest Competition

Refers to the competitors within the same industry that offer the most similar products or services to a company's offerings.

Top-Of-The-Line

Describes products, services, or goods of the highest quality available within a specific category or market segment.

Price Elasticity of Demand

A measure of how sensitive the quantity demanded of a good is to a change in its price.

Elastic

Refers to a market for a product or service that is price sensitive; that is, relatively small changes in price will generate fairly large changes in the quantity demanded.

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