Is the process by which a company creates a distinct image and identity for its products services and brands in consumers minds?The process of creating an image of a product in the minds of the consumers is called as positioning. Positioning helps to create first impression of brands in the minds of target audience. In simpler words positioning helps in creating a perception of a product or service amongst the consumers.
What is the term that refers to a products identity?Determining how to get the product to the right people, in the right amounts, at the right time and place. What is the term that refers to a product's identity, as represented by its name and/or mark? Brand. For which pricing method is it crucial to perform a breakeven analysis? Cost-oriented pricing.
How can a brand's values influence consumers?Brands influence consumer behavior by clicking with the “self-image” of the consumers. Adverts show levels of happiness and types of lifestyles that consumers want to have, and those act as symbols of what the brand represents.
Which of the following is the key assumption underlying the marketing concept?The key assumption underlying the marketing concept is that to be successful a company must determine the needs and wants of specific target markets and deliver the desired satisfac- tions better than the competition.
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