Brand Positioning and Customer Requirements Quiz

Positioning = Refers to the place you want your brand or product to have within a particular target market Market Size = Refers to the total number of buyers or potential buyers for your product Product = Anything offered by a business for sale Price = The monetary value assigned to the sale of a product

Service Requirements = Intangible things that cannot be touched but can feel fulfillment Output Requirement = Tangible things that can be seen or the characteristics specifications that a consumer expects to be fulfilled in the product Customer Requirement = Certain specific expectations of product features or characteristics with expected quality Market Skimming Strategy = Sets a high introductory price where it is high to attract buyers and instantly reduces at some point to attract other layers of the market

Consumer Goods = Anything that is consumed (final consumption) by consumers for their everyday life Industrial Goods = Anything or raw materials used to create other goods Two Types of Customer Requirements = Service Requirements, Output Requirement Two Classifications of Goods = Consumer Goods, Industrial Goods

<p>Penetration Strategy = Low price in introductory stage to build market share Cost - Plus Pricing = Markup added to cost for selling price Competitive Pricing = Product's price set in line with competitors Premium Pricing = Tactically pricing product higher than immediate competition</p> Signup and view all the answers

<p>Direct Distribution Channel = Producer to Consumer Indirect Distribution Channel = Producers go through intermediaries to reach consumers Main Types of Intermediary = Agent, Wholesalers, Retailers, Distributors Distribution Channel = Network used to get product from manufacturer to end user</p> Signup and view all the answers

<p>Advertising = Non personal promotion to promote brand awareness Direct Selling = One on one communication, effective but expensive Sales Promotion = Short term activities to encourage immediate purchase Public Relations = Management of communications to influence public perception</p> Signup and view all the answers

<p>Print Media = Printed publications like newspapers and magazines Television = Commercials, programming, and distractions Radio = Radio commercials Internet = Websites, social networks, and applications</p> Signup and view all the answers