Theme 1.1.3

Question 1

Added value

Answer 1

the extra features that may be offered by a business when selling a product, such as high quality customer service

Question 2

competitive advantage

Answer 2

an advantage that enables a business to perform better than its rivals in the market

Question 3

market maps

Answer 3

a two-dimensional diagram that shows two of the attributes or characteristics of a brand and those of rival brands in the market

Question 4

market positioning

Answer 4

the view consumers have about the quality, value for money and image of a product in relation to those of competitors

Question 5

product differentiation

Answer 5

an attempt by a business to distinguish its product from those of competitors

Question 6

reposition

Answer 6

change the view consumers have about a product by altering some of its characteristics

Question 7

USP

Answer 7

the aspect or feature of a product that clearly distinguishes it from its rivals