1.1.3 Market Positioning

• What is market positioning defined as?

  How a company or product is perceived by customers relative to competitors
• The specific group of customers a business aims to serve is called the target market.
• What does perceived value refer to in market positioning?

  How customers see the worth of a product relative to others
• Market positioning focuses on dividing the overall market into distinct groups based on characteristics.

  False
• Arrange the following factors influencing market positioning in order of their primary impact on customers:

  1️⃣ Price

  2️⃣ Product Quality

  3️⃣ Competition

  4️⃣ Target Market Needs
• Why is competitive advantage important in market positioning?

  It differentiates a brand from competitors
• A key benefit of competitive advantage is increased market share.
• Match the type of competitive advantage with its benefit:

  Cost Leadership ↔️ Lower prices

  Differentiation ↔️ Superior quality

  Focus ↔️ Niche expertise
• What are market positioning strategies used for?

  To create a distinct brand image
• Competitive positioning emphasizes superiority over competitors.
• Price positioning focuses on showcasing key customer benefits.

  False
• Arrange the market positioning strategies based on their primary focus:

  1️⃣ Competitive Positioning

  2️⃣ Benefit Positioning

  3️⃣ Price Positioning
• Why is competitive advantage essential in market positioning?

  It differentiates the brand
• One key benefit of competitive advantage is increased market share.
• Which competitive advantage type is exemplified by Rolls-Royce?

  Focus
• Competitive advantage is crucial in market positioning as it differentiates a brand, making it more attractive to the target market and securing a distinct position in customers' minds
• What is one key benefit of competitive advantage in market positioning?

  Increased market share
• Match the type of competitive advantage with its benefit:

  Cost Leadership ↔️ Lower prices

  Differentiation ↔️ Superior quality

  Focus ↔️ Niche expertise
• Competitive Positioning emphasizes superiority over competitors by focusing on unique features and benefits
• Market positioning shapes customer perception by creating a distinct image of a brand relative to its competitors.
• Arrange the key elements of customer perception in order of their relevance:

  1️⃣ Brand Image

  2️⃣ Perceived Quality

  3️⃣ Value

  4️⃣ Emotional Connection
• What is the impact of a well-positioned brand on customer perception?

  Increased satisfaction
• A poorly-positioned brand may lead to confusion, lost sales, and lower customer retention
• Match the market positioning aspect with its effect on customer perception:

  Price Positioning ↔️ Influences perceived value and quality

  Differentiation ↔️ Creates a unique identity in the market

  Brand Image ↔️ Shapes overall customer attitude towards the brand
• How does Apple's premium market positioning influence customer perception?

  High-quality, innovative products