Changing the place a product occupies in a consumer's mind relative to competitive products is referred to as

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Repositioning refers to changing the way a consumer perceives a product in relation to its competitors. It involves altering the product's characteristics, image, or target market to differentiate it from its competitors and establish its unique position in the market. Market modification, product modification, product development, and differentiation may involve changes to the product but are not specifically related to repositioning.

Changing the Place a Product Occupies in a Consumer's Mind