To effectively positioning a product or brand, companies take four steps: (1) identify the important attributes for the product or brand class; (2) discover how target customers rate competing products or brands with respect to these attributes; (3) ___________; and (4) reposition the company's product or brand in the minds of potential customers.
A)discover where the company's product or brand is on these attributes in the minds of potential customers
B)decide whether to keep or delete the market segment that your product offering targets
C)identify the competitors' brands that make up the consideration set
D)create a marketing plan based on customers' perceptions
E)identify market niches that were not selected during the market segmentation process

Question

Quizplus · Accepted Answer

The third step to effectively positioning a product or brand is to discover where the company's product or brand is on the important attributes in the minds of potential customers. This involves conducting market research and analyzing customer perceptions and attitudes towards the product or brand. Based on this information, the company can determine how to position its product or brand relative to competitors and develop a marketing strategy to effectively communicate this positioning to customers.

To Effectively Positioning a Product or Brand, Companies Take Four