Flashcards in Market Positioning Deck (5)
What is Market Positioning?
-It is a tool used by businesses to determine whether they should be product-orientated or market-orientated
What does Product-orientated mean?
-Product orientated means the business solely focuses on producing products that it believes customers will want.
What does Market orientated mean?
-Market orientated means the business solely focuses on producing products that customers will want based on what trends are going on in the market.
What is a market map?
-A market map or a positioning map illustrates the range of "positions" that a product can take in a market based on two dimensions that are important to customers, which are PRICE and QUALITY