________ involves the process of defining the marketing mix variables so that target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products.
A)Target marketing
B)Market segmentation
C)Market positioning
D)Allocation
E)Value capture

Question

Quizplus · Accepted Answer

Market positioning involves defining the marketing mix variables (product, price, promotion, and place) in a way that creates a clear and desirable image of the product in the minds of the target customers, relative to competing products. It involves identifying and emphasizing the unique attributes, benefits, and values of the product to distinguish it from rivals and appeal to the needs and preferences of the target market segments. Target marketing refers to selecting and prioritizing specific customer groups as the focus of marketing efforts, while market segmentation is the process of dividing a broad market into smaller groups of consumers based on shared characteristics or needs. Allocation and value capture are related to the distribution of resources and costs to create and capture value, respectively.

________ Involves the Process of Defining the Marketing Mix Variables