Chapter 7 Question - Question 1 Product positioning is the process of customizing or tailoring a product for a specific market segment relative to

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Question 1 Product positioning is the process of customizing or tailoring a product for a specific market segment relative to its competitors. Product differentiation through the marketing mix is achieved through four components of the marketing mix. The combination of (1) the product’s qualities and features; (2) the product’s price; (3) the promotion mix used to inform and persuade people to buy the product; and (4) the places at which the product is made available for sale. An example of the four components of the marketing mix that could be used to position a new minivan for a well educated, young middle income family with two more children is first the family needs to identify what special need features the van will offer to accommodate the family and the children, such as a television and space accommodations. The family will need to factor in the van’s monthly car note payments along with their other monthly bills. The family has to research and see if the company is offering a rebate or promotional offer off the cost of the van. Finally, the family needs to obtain price quotes from at least three
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This note was uploaded on 10/21/2011 for the course INTRO TO B BBA 2010 taught by Professor Profjones during the Spring '11 term at Columbia Southern University, Orange Beach.

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