ANS WEEK 2 MKTG.pdf

In the extreme micromarketing becomes individual

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cities, neighborhoods, and even specific stores. In the extreme, micromarketing becomes individual marketing tailoring products and marketing programs to the needs and preferences of individual customers. Individual marketing has also been labeled one-to-one marketing , mass customization, and markets-of-one marketing . Therefore, local marketing focus on tailoring offerings to geographic locations, whereas individual marketing focuses on individuals irrespective of where they are located. 5. In the context of marketing, what is a product’s “position”? How do marketers know what it is? Answer: A product’s position is the way the product is defined by consumers on important attributes the place the product occupies in consumers’ minds relative to competing products. Marketers often prepare positioning strategy to show consumer perceptions of their brands versus competing products on important buying dimensions. Marketers know the product s position by developing their own positioning statement and positioning map based on the brand s competitive advantage.
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