BACHELOR OF BUSINESS ADMINISTRATION

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BUSINESS ADMINISTRATION

RETAIL MARKETING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
If a company’s positioning statement includes a target segment, the service/product category in which a company is establishing that market position, the key differentiation points, and the reasons why customers should believe the positioning claims, what is the statement missing?
A
the product/service category
B
the target segment
C
the brand name
Explanation: 

Detailed explanation-1: -A positioning statement is an expression of how a given product, service or brand fills a particular consumer need in a way that its competitors don’t. Positioning is the process of identifying an appropriate market niche for a product (or service or brand) and getting it established in that area.

Detailed explanation-2: -The “target audience” is a brief description of the segment you’re targeting with this positioning strategy. For example: young urban males, managing partners in law firms, or small business owners in the Pacific Northwest. “Product X” is your product, service, or brand name.

Detailed explanation-3: -Brand positioning has been defined by Kotler as “the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market”. In other words, brand positioning describes how a brand is different from its competitors and where, or how, it sits in customers’ minds.

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