Market Positioning
- Created by: EloiseBray
- Created on: 10-10-17 19:25
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- Market Positioning
- The consumer's perception of a brand or product in relation to competing brands or products.
- Market Mapping
- A method of analysing market position
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Advantages
- Helps firms to spot gaps in the market
- Can help a firm to differentiate its products
- A grid to show two features of a market. Products are added to the grid to analyse the competition in the market
- Disadvantages
- Can be difficult to categorize some products and services
- Identifying gaps does not always mean there is a need to fill it – more research must be done
- Product Repositioning
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Changing customer’s perceptions
- E.g. Skoda
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Repositioning to focus on a new segment
- E.g. Lucozade used to be a health drink and now its a sports drink
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Changing customer’s perceptions
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