BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

STRATEGIC MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

In terms of strategic positioning, what are two reasons why it is important for a business to perform activities which respond to the needs of its customers?

A	satisfy customer needs and build clear brand image
B	build clear brand iage and decrease costs
C	increase prices and satisfy customers
D	use materials efficiently and expand your market

Explanation:

Detailed explanation-1: -Strategic positioning reflects choices a company makes about the kind of value it will create and how that value will be created differently than rivals. Strategic positioning should translate into one of two things: a premium price or lower costs for the company.

Detailed explanation-2: -There are three standard types of product positioning strategies brands should consider: comparative, differentiation, and segmentation. Through these strategies, brands can help their product stand out by targeting the right audiences with the best message.

Detailed explanation-3: -Positioning is important because it helps to create a competitive advantage by allowing a company to stand out in the minds of customers. By positioning a product or service effectively, companies are able to better target their customers and create a unique value proposition.

There is 1 question to complete.