The Term "Product Positioning" Refers To

question 138

Multiple Choice

The term "product positioning" refers to:

• A)a low cost market entry strategy in which two or more firms represent one another's complementary yet non-competing products in the markets.
• B)the process of developing entirely new products for new markets.
• C)consumers' perceptions of a product's attributes, uses, quality, as well as advantages and disadvantages relative to competing brands.
• D)the process of developing a trade dress for a new product.

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Definitions:

Price

is the amount of money expected, required, or given in payment for something.

Product Quality

Product Quality is the degree to which a product or service meets or exceeds the customer's expectations in terms of reliability, durability, design, functionality, and price.

Perception

The process by which individuals interpret and organize sensation to produce a meaningful experience of the world.

Everyday Low

A pricing strategy where a retailer aims to provide products at low prices on a consistent basis instead of relying on sales or discounts.