"Market Positioning" (Theme 1: A level Business Edexcel)
6 views 0 purchase
Course
Unit 1 - Marketing and people
Institution
PEARSON (PEARSON)
In this lecture notes you will find in depth notes for the topic "Market Positioning" Theme 1, Edexcel A level business which is called marketing and people.The textbook "Edexcel AS/A level BUSINESS, 5th edition, Pearson" is referenced in these lecture notes. They are really well written and simple...
LESSON 3
.1.1.3 Market positioning
- The perceptions a consumer has about a product to help them simplify choice
(How target market perceive us (firms)
- Firms will plan marketing activities to shape consumer perceptions and therefore
achieve a desired position
- Approaches that a business might use to position its products may include:
- Product benefits
- Unique selling point/preposition (USP)
- Product attributes: adding vitamins, flavours...
- Origin of the product: really important for customers→for quality
- Product classification
.Market mapping
- Using consumer perceptions to map all the products in the market. This may be
ascertained through market research
- It’s a map with 2 axes, which represents two polar features (mass vs niche market,
functional vs aesthetic or...
Low price High price
Basic quality High quality
Low volume High volume
Necessity Luxury
Light Heavy
Simple Complex
Unhealthy Healthy
Low-tech Hi-tech
TESCO: had two big scandals, so when a business had a damage it tries to REPOSITION
Itself. It means that a business tries to regain customers' trust and royalty.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller annacarcelli. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.49. You're not tied to anything after your purchase.
