MKT 2210 Lecture Notes - Lecture 16: Intangibility

• School: University of Manitoba
• Department: Marketing
• Course: MKT 2210
• Professor: Malcolm C.Smith

Document Summary

How the product is difereniated in the market versus the compeiion: short paragraph that ideniies four elements: the product name. One or two main reasons that they target market buys the product (product beneits) What sets the product apart from the compeiion. Reposiioning: a revamping of a product and its markeing mix to more accurately meet consumer needs. Posiioning maps: visual representaions of how products are posiioned in a category to consumers/customers. Need to clearly idenify the two most important atributes that drive purchases in a category, whether it be in the business markeing or consumer market. Can idenify opportuniies to launch new product oferings in the market. Market segmentaion, target markets, and product posiioning in pracice: Fundamental concepts central to how marketers run their businesses. Market segmentaion helps marketers place their product oferings in the context of a compeiive market. Allows a marketer to idenify gaps in the market and determine where future opportuniies may lie.