Key to Positioning a Product or Brand Effectively Is Discovering

question 36

Multiple Choice

key to positioning a product or brand effectively is discovering the perceptions of its potential customers.In determining its positioning in the minds of customers,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) discover how target customers rate competing products or brands with respect to these attributes
• D) create a marketing plan based on customers' perceptions
• E) identify market niches that were not previously selected during the market segmentation process

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Definitions:

Penalty Kick

A method of restarting play in soccer, awarded for certain fouls within the penalty area, where a player kicks the ball from the penalty spot aiming to score against the opposing goalkeeper alone.

Kicker's Payoffs

Term used in game theory to describe the rewards or outcomes that a player (the "kicker") stands to gain from various actions.

Probability of Success

The likelihood or chance of an event or endeavor achieving its intended outcome or goal.

Probability of Failure

This refers to the likelihood that a system or component will fail to perform its intended function within a specified period.