Commentary about how the quality and price factors

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Reference no: EM133945081

Question

Prior to beginning work on this discussion, read the following material: Product positioning is discussed on pages 250 through 253 in our text. For this discussion, focus on figure 8-3 (page 252) and author commentary about that figure (page 251).

Knowing what customers want is a significant issue that must be addressed when we are implementing strategy. If we assume we know what customers want and do not base our assumptions on quality research and analysis, we are likely to be making a serious mistake. In general, our personal preferences are not necessarily the gold standard. Product positioning, also termed perceptual mapping, is a tool used to separate business management views from customer views.

You are going to create an initial discussion post that addresses the following:

Analyze the author's commentary about how the quality and price factors were determined. Is this approach generally applicable to small businesses in general, especially the business you have in mind? If not, how would you find the information needed to develop a price-versus-quality perceptual map for your product or service offering?

Reference no: EM133945081

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