BMW makes "the ultimate driving machine," Ford is "built for the road ahead," and Kia promises "the power to surprise." Statements such as these reflect a firm's ________.

Question

Quizplus · Accepted Answer

These statements indicate how the firm positions its products in the minds of consumers relative to competitors. It is a key part of the firm's overall marketing strategy. Product portfolio refers to the range of products offered by the firm, target markets are the specific groups of customers the firm aims to serve, marketing mix refers to the specific tactics used to promote and sell the product, and niche refers to a specialized market segment.

BMW Makes "The Ultimate Driving Machine," Ford Is "Built for the Road