Cyclic Inc.launches a new bike in the market.Although it maintains the same quality as other bikes in the market, it offers a much lower price.Which of the following strategies is used by the company to create an image of a low-cost, high-quality brand among its consumers?
A)Undifferentiated targeting
B)Positioning
C)Perceptual mapping
D)Mass marketing
E)Micromarketing

Question

Quizplus · Accepted Answer

The company is using positioning strategy to create an image of a low-cost, high-quality brand among its consumers. By offering a much lower price than other bikes in the market, the company is positioning itself as a cost-effective option without compromising the quality. This will help the company to attract price-sensitive consumers who are looking for good quality bikes at a lower price point.