Specific marketing mix to influence potential customers

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Reference no: EM131269670

Perceptual Map

Positioning is the development of a specific marketing mix to influence potential customers' overall perception of a brand, product line, or organization in general. The term position refers to the place a product, brand, or group of products occupies in consumers' minds relative to competing offerings. Firms use the elements of the marketing mix to clarify their position or to reposition the product in the consumers' minds.

The purpose of product differentiation is to distinguish one firm's products from another's. The differences can be real or perceived. The marketer attempts to convince customers that a brand is significantly different from the others and should therefore be demanded over competing brands.

Assignment: Choose a product category (do not use cars). Create a perceptual map, choosing (and listing) the attributes for each axis. Position the products brands within the map. A sample perceptual map may be found on the last slide of the power point presentation for Chapter 6.

Reference no: EM131269670

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