Explanation should include the following concepts:
- Positioning is the image a product or business possesses that differentiates it from its competitors and includes all aspects of the product mix.
- Once its target market is identified, the business positions itself or its products to most effectively reach the target market.
Process/Skill Questions:
- How does an organization develop its position in the marketplace?
- How can an organization change its position in the marketplace? Why might it choose to do so?
- What is niche marketing?
- What effect does market share have on positioning?
- Who will ultimately determine how a product/business is positioned?