Pts 1 ref 129 obj 08 8 top aacsb communication tbe

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PTS: 1 REF: 129 OBJ: 08-8 TOP: AACSB Communication | TB&E Model Strategy 21. Explain what is meant by positioning and describe the bases marketers use to position products and services. ANS: Positioning is developing a specific marketing mix to influence potential customers’ overall perception of a brand, product line, or organization in general. Firms use a variety of bases for positioning: ATTRIBUTE. Products may be associated with an attribute, feature, or particular customer benefit.
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PRICE AND QUALITY. Firms may stress high price as a signal of quality or low price as a signal of value. USE OR APPLICATION. Stressing use situations or special applications effectively positions the product. PRODUCT USER. This position base associates the product with a personality or type of user. PRODUCT CLASS. The product is associated with a particular category of products. COMPETITOR. Positioning against a competitor, such as Avis positioning itself as No. 2 against Hertz. EMOTION. Focuses on how the product makes customers feel. PTS: 1 REF: 129-131 OBJ: 08-9 TOP: AACSB Communication | TB&E Model Strategy 22. What is product differentiation and how can it be achieved? ANS: Product differentiation distinguishes one firm's products from those of competitors. Differences can be either real or perceived. Products can be differentiated by brand names, packaging, color, smell, or other means. Products can also be differentiated according to real benefits such as quality, features, and price. PTS: 1 REF: 130 OBJ: 08-9 TOP: AACSB Communication | TB&E Model Strategy 23. You are the marketing manager for a food products firm. Your firm would like to introduce a new beverage to the marketplace. You have determined that two important dimensions for positioning a product are (1) nutritional value and (2) age orientation. Place the following beverages on the percep- tual map provided: Coffee, Orange Juice, Diet Cola, Apple Cider, Mineral Water, Milk, Herbal Tea, Liquor, Tomato Juice. Assuming the listed beverages comprise all competitive beverages, what posi- tion should your firm's new beverage have? Describe the new beverage.
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ANS: Although exact locations will vary by student, likely quadrant locations are shown above. The posi- tioning should indicate there is room for a non-nutritious beverage targeted at children, such as a pre- sweetened punch or a sugared, artificially flavored and colored soft drink. PTS: 1 REF: 130 OBJ: 08-9 TOP: AACSB Communication | TB&E Model Customer
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  • Spring '10
  • Patterson
  • Marketing, AACSB Reflective Thinking, TB&E Model Strategy, A This magazine

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