Objective 4

| Discuss how companies differentiate and position their products for maximum competitive advantage in the marketplace.

Positioning firm's market offering to create superior customer value. Positioning consists of

Arranging for a market offering to occupy arranging for a market offering to occupy a clear, distinctive, and desirable place rela-a clear, distinctive, and desirable place tive t0 competing products in the minds of target consumers. We discuss each of these relative to competing products in the gtepS in tum minds of target consumers.

Market Segmentation (pp 216-225)

Buyers in any market differ in their wants, resources, locations, buying attitudes, and buying practices. Through market segmentation, companies divide large, heterogeneous markets into smaller segments that can be reached more efficiently and effectively with products and services that match their unique needs. In this section, we discuss four important segmentation topics: segmenting consumer markets, segmenting business markets, segmenting international markets, and requirements for effective segmentation.

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