A Key to Effectively Positioning a Product or Brand Is

question 187

Multiple Choice

A key to effectively positioning a product or brand is discovering its perception in the minds of potential customers.To do this,companies take four steps: (1) __________; (2) discover how target customers rate competing products or brands with respect to these attributes; (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 the important attributes for the product or brand class
• 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:

Moral Hazard

A situation in economics where one party is willing to take risks because the negative consequences of those risks will be borne by another party.

Fire Insurance

A type of property insurance that covers damage and losses caused by fire.

Precautions

Actions taken in advance to prevent harm or secure good outcomes.

Moral Hazard

The situation where the behavior of one party changes to the detriment of another after a transaction has occurred.