"Market Positioning" (Theme 1: A level Business Edexcel)
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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.
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