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Solved in 3 steps
- A company has a new product that they believe has potential in multiple markets. How should they go about positioning the product for each market?What can be a particular product (goods or service) that can be offered in the market that can eventually gain customers' loyalty?What is the importance of selecting the best product to meet market needs?
- What value does a minimalistic handbag offer to consumers that makes it unique or superior to other similar products on the market, and that is it likely to make it successful?How can the company differentiate its goods and/or services from those of its competitors?How does consumers provide value to a product or service?
- Describe the current competitive market for your product. Can you identify the number of brands or the market share that they hold? Expand your analysis to include other products that are similar or could be substituted for yours.How can organizations effectively identify and assess opportunities for product differentiation in saturated or highly competitive markets?Select a product you are familiar with. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle? How will this affect the marketing of your selected product?