To position a new venture effectively, the venture must _______________.
A) identify potential customers only
B) identify and assess all competitors who target the venture's intended customer base
C) always charge a premium price
D) assume there is no direct competition

Question

Quizplus · Accepted Answer

To position a new venture effectively, it is important to identify and assess all competitors who target the same customer base. This will help the venture to develop a unique value proposition that differentiates it from competitors and resonates with the target customers. Identifying potential customers alone is not sufficient, and assuming there is no direct competition may lead to inaccurate market analysis and poor positioning. Charging a premium price may or may not be a part of the positioning strategy, depending on the market conditions and the target customers' willingness to pay.

To Position a New Venture Effectively, the Venture Must _______________