Meeting customer needs

What is a market map

A market map is a two-dimensional diagram that shows the attributes or characteristics of a product compared to those of rivals

Define the term market positioning

Market positioning refers to product launch decisions such as price ,quality ,branding and customer perception ,which position the product in relation to its competitors

True or False :All consumers in a market segment behave in the same way

False . Not everyone within a segment will behave in the same way ;they simply share similar characteristics

What is the purpose of branding

Branding is one of the key ways businesses achieve product or business differentiation

Define the term niche market

A niche market is one in which the products are aimed at a small subset of consumers in the market