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WorksheetsRetail Marketing - Positioning
Total questions: 26
Worksheet time: 14mins
The process organizations use to highlight the standout qualities of their product or service and the value it brings to a customer as compared to their competition is the definition of:
branding
positioning
differentiation
What is the term for the process marketers use to strategically determine which niche a product or service should occupy in a market compared to other products or service offerings?
branding
differentiation
positioning
When a marketer aims her product message at a specific target market, what does she do with the general value proposition?
She uses the positioning strategy to inform the value proposition of the production needs.
She uses the value proposition to steer the positioning strategies.
She uses the positioning strategy to adjust the value proposition to the target segment’s needs and interests.
Which answer best completes the statement, “Effective positioning is always linked to________”?
a general market segment
a specific demographic segment
a specific target segment
In order for a company to market the same product or service to different markets, what step is critical for the company to take?
The company should show its product or service is similar to its competitors.
The company should be consistent and use the same marketing mix for different audiences.
The company should generate different positioning strategies to target the different audiences.
Fill in the blank with the best response. A competitive advantage is ________.
a tool that helps calculate how different competitors are positioned in the market.
a means of communicating a company’s product development cycle.
a quality, capability, or trait that grants an organization the ability to outperform its competitors.
Once a company has identified its competitive advantages and chosen the ones that define its market niche, what is its next step?
communicating and delivering its positioning strategy
confirming its understanding of the market dynamics
defining its positioning strategy
If something is an intangible or tangible characteristic of a product, service, or offering, it is considered a:
benefit
price
feature
A company’s product or service that provides a unique, intangible strength or outcome for a customer is the definition of a:
feature
price
benefit
Which tool is based on the key criteria that greatly influences customer decisions and illustrates how a variety of competitors are positioned in the marketplace?
product development chart
positioning strategy table
perceptual map
Red Bull brands itself as the extreme drink for extreme living enthusiast. What type of common positioning strategy is it using?
business approach strategy
anti-competition strategy
best fit for the customer strategy
Seven-Up brands itself as ”The Uncola.” What type of common positioning strategy is it using in the soda market?
business approach strategy
category benefit strategy
anti-competition strategy
A sentence that summarily describes the target market and defines what a company wants customers to think about its brand is the definition of:
branding statement
product life cycle
positioning statement
The first step in outlining a strong marketing positioning statement is to:
address the key reasons customers should believe in the statement
address the category or frame of reference
address the target audience
If a company’s positioning statement includes a target segment, the service/product category in which a company is establishing that market position, the key differentiation points, and the reasons why customers should believe the positioning claims, what is the statement missing?
the product/service category
the target segment
the brand name
How do you distinguish an effective positioning statement from an ineffective one?
An effective positioning statement leaves the target market with questions about how one product, service, or brand is superior to another.
After hearing an ineffective position statement you have clarity about what a company is offering.
The effective positioning statement includes all five key positioning statement elements, and an ineffective one leaves out some of the key elements.
The local inexpensive pasty shop, Tasty’s, needs to write a position statement to identify and attract its no-frills target audience. What should it include to make the statement effective?
position Tasty’s with the mindset of a speciality pastry connoisseur
addresses the elements of the larger pastry market
position Tasty’s to its no-frills pastry target customer with products that are convenient and inexpensive way for busy people to get their morning pastry at Tasty’s
Robinson Remodeling is a handyman business specializing in electrical and plumbing services. Mr Robinson should write a position statement to help him be with more effective marketing his business. What should be included to make Robinson’s Remodeling statement effective?
addresses the elements of the larger construction market
the position of the mindset of a master plumber
position itself to the homeowner market, and its thirty years of customer satisfaction in small and medium home electrical and plumbing repairs
What triggers a company to realize it is time to reposition a product or service?
When a timed product development process is complete
When it has strong demand for a product or service
When it sees the opportunity or need to improve the market demand for its product or service
Which factors can trigger an organization’s decision to reposition a product, service, or brand?
new internal hiring policies and accounting systems
product features and traditional service offerings
competition and consumer trends
What is the difference between marketing positioning and repositioning a company, product, or service?
Positioning is the dramatic way a service, product or company is presented to the market whereas repositioning is done with minimal changes to the original positing plan.
Positioning is the way marketers present a service to the market whereas repositioning is a way to present a product to the market.
Positioning is the original way a company, product, or service is presented to the market whereas repositioning is taking that original market message and changing it to fit a different place in the market.
What is one of the risks or pitfalls that can occur when a product or service is repositioned in the market?
Has the potential to strengthen or build market perceptions of the product or service
Has the potential to create a new or more meaningful brand, product, or service
Has the potential to weaken or undermine market perceptions of the product or service
How is a positioning strategy/statement used to inform a company’s marketing mix?
Use the positioning statement to shape the company’s long-term sales strategy.
Marketers use a positioning statement to drive only the pricing portion of the marketing mix.
Marketers use a positioning strategy to direct the marketing mix for a product, service, or brand.
A marketer works on developing the “Place” portion of the marketing mix. What question should she keep in mind while working on it?
Is the product delivering all that the position statement claims it will?
How does the marketing communicating a positioning approach to company management?
Is there a distribution focus mentioned or implied as a competitive advantage or a positioning strategy that should be directly addressed?
Which promotion considerations does a marketer need to address when using a company’s new positioning statement?
whether the price is aligned with customer expectations
how to misalign the old position with the company’s new repositioning statement
the type of campaigns used and message and activity consistency across channels
A technology company needs to monitor its customers’ responses after launching its new brand positioning of its portable external hard drive product. How can marketers collect direct feedback from their customers?
Monitor the number of new and returning customers purchasing the product.
Calculate the average spending per customer for the product.
Collect customer feedback information from customer service and monitor social media comments about the product.
