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market positioning (examples of those dimensions might be: (high price vs…
market positioning
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market mapping - is considering some features of a market on a diagram and plotting where different competitors are in relation to these features
competitive advantage - an advantage a business has over its' competitors, allowing it to succeed in the market
product differentiation - how a business differentiates its products; through reputation, service features or value
adding value - is the process of increasing the worth of resources by modifying them to make them worth more in the eyes of consumer
cost advantage: a business has efficient operations in provide low cost value to consumers, ex. Aldi
differentiation advantage: resources are used by a business to create superior value for the consumer, ex. BMW
product differentiation may be perceived, ex. consumers think it is different or actual - it has a genuine difference