What is a market positioning strategy?

A deliberate branding plan that operates on the symbolic levels of consumer consciousness.

A process to determine the strengths and weaknesses of your own business measured against the competition.

A method to gather data on the competition and analyze their strategies.

A long-term effort to solidify the identity of a company and set it apart from the crowd.

What is the purpose of competitor analysis in market positioning?

To determine the strengths and weaknesses of your own business.

To understand who your competitors are and what strategies they use.

To identify the unique value your brand provides.

To test the effectiveness of your brand positioning.

What is the final step in the market positioning process?

Drafting a positioning statement

Testing the effectiveness of the final brand positioning concept

Determining current market position

What is the purpose of comparing and contrasting your brand with competitors?

To determine the strengths and weaknesses of your own business.

To understand who your competitors are and what strategies they use.

To identify the unique value your brand provides.

To test the effectiveness of your brand positioning.

Why is repositioning a brand a challenging task?

It requires creating something new and different.

It involves taking a hard stance on company identity and values.

It can compromise the credibility of the brand.

What should be included in a market positioning statement?

The target customer and their needs, the product or brand name, and a statement of distinction.

The market category, the target audience, and a statement of benefit.

The competitors and what makes your brand different, the target customer, and a promise.

The company values and goals, the target customer, and evidence of delivering on promises.

What is the primary purpose of a market positioning strategy?

To determine the strengths and weaknesses of your own business.

To identify the unique value your brand provides.

To understand who your competitors are and what strategies they use.

To solidify the identity of a company in the minds of the target audience.

Why is it important to test the effectiveness of a brand positioning concept?

To determine the strengths and weaknesses of your own business.

To understand who your competitors are and what strategies they use.

To identify the unique value your brand provides.

To ensure the positioning aligns with customer perceptions and expectations.

Market Segmentation - 2 Free MCQ Practice Test with Solutions

	Principles of Marketing 39 videos\|48 docs\|16 tests

	Principles of Marketing 39 videos\|48 docs\|16 tests

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