The first step in developing a positioning strategy is to ________.
A)create a product with a competitive advantage
B)create target markets
C)analyse the competitors' position in the marketplace
D)set the marketing communications budget
E)identify segmentation variables

Question

Quizplus · Accepted Answer

The first step in developing a positioning strategy is to analyze the competitors' position in the marketplace. Before a company can position its product or service, it needs to have a clear understanding of what its competitors are offering and how they are positioning themselves in the market. This analysis will help the company identify opportunities to differentiate itself and carve out a unique position in the market. Creating a product with a competitive advantage, identifying segmentation variables, creating target markets, and setting the marketing communications budget are all important steps in developing a marketing strategy, but they come after analyzing the competition.

The First Step in Developing a Positioning Strategy Is to ________