To effectively position 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

Once the important attributes for the product or brand class are identified and the target customers' ratings of competing products or brands with respect to these attributes are discovered, the next step is to determine where the company's product or brand stands on these attributes in the minds of potential customers. This information can help the company identify areas where it needs to improve and differentiate itself from competitors, ultimately leading to successful product or brand positioning.

To Effectively Position a Product or Brand, Companies Take Four