To Effectively Positioning a Product or Brand, Companies Take Four

question 6

Multiple Choice

To effectively positioning a product or brand, companies take four steps: (1) identify the important attributes for the product or brand class; (2) discover how target customers rate competing products or brands with respect to these attributes; (3) ___________; and (4) reposition the company's product or brand in the minds of potential customers.

• A)discover where the company's product or brand is on these attributes in the minds of potential customers
• B)decide whether to keep or delete the market segment that your product offering targets
• C)identify the competitors' brands that make up the consideration set
• D)create a marketing plan based on customers' perceptions
• E)identify market niches that were not selected during the market segmentation process

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Definitions:

Downstream Firms

Companies positioned at the end stages of supply chains, engaging in the processing or selling of final products to customers.

Market Power

The ability of a company or entity to influence the price and output levels in the market.

Double-Markup Problem

A situation in vertical supply chains wherein two or more successive stages (like wholesalers and retailers) mark up the prices of goods, potentially leading to excessively high retail prices.

Vertical Relationships

The interactions and connections between different levels of a supply chain, such as manufacturers and distributors.