Market Positioning (Edexcel A-Level Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
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Practise the cards
10 cards from this deck
Competitive advantage
Competitive advantage
Unique features customers see as better than competitors
Cost leader
Cost leader
Firm producing efficiently at low cost, charging lower prices
Product differentiation
Product differentiation
Making products stand out with distinctive features
Real vs perceived differences
Real vs perceived differences
Real=actual differences; Perceived=believed differences
Flexible pricing purpose
Flexible pricing purpose
Differentiation allows charging higher prices
Adding value definition
Adding value definition
Providing extra features beyond standard expectations
Bundling method
Bundling method
Combining multiple benefits/services into one package
After-sales service examples
After-sales service examples
Helpdesk, follow-up calls, free maintenance
Benefits of adding value
Benefits of adding value
Higher prices, differentiation, protection from price wars
Perceptual/market positioning maps
Perceptual/market positioning maps
Visual tools showing brand positioning vs competitors