Revolve Inc., a car manufacturing company, launched a new car in the market. It promoted the car as a high-price, high-quality, and high-performance vehicle. The car was aimed at high-income customers. The tagline read, "Suite on Wheels" emphasizing the luxury and comfort provided by the car while travelling. Despite all the promotions, the car did not attract the kind of customers the company had hoped to attract. Therefore, to revive interest in the car, Revolve started offering the vehicle at a lower price, aiming it at the middle-income segment. Revolve came up with a new tagline: "A jet at a cab's price."
-Revolve first promoted the new model as a luxury car for the premium segment.This is called:
A)brand repositioning.
B)positioning.
C)perceptual mapping.
D)mass marketing.
E)micromarketing.

Question

Quizplus · Accepted Answer

The promotion of the new car as a high-price, high-quality, and high-performance vehicle aimed at high-income customers is an example of positioning – the process of creating a distinctive image and identity for a product in the minds of the target market.