key to positioning a product or brand effectively is discovering the perceptions of its potential customers.In determining its positioning in the minds of customers,companies take four steps: (1)identify the important attributes for the product or brand class; (2)discover how target customers rate competing products or brands with respect to these attributes; (3)___________; and (4)reposition the company's product or brand in the minds of potential customers.
A) decide whether to keep or delete the market segment that your product offering targets
B) identify the competitors' brands that make up the consideration set
C) create a marketing plan based on customers' perceptions
D) identify market niches that were not previously selected during the market segmentation process
E) discover where the company's product or brand is on these attributes in the minds of potential customers

Question

Quizplus · Accepted Answer

The third step in determining the positioning of a product or brand is to discover where the company's product or brand is on important attributes in the minds of potential customers. This is done by conducting market research and analyzing customer feedback to determine the strengths and weaknesses of the product or brand compared to competitors. Only after this step can the company make informed decisions about how to position their product or brand to effectively differentiate it from competitors and meet the needs of target customers. Therefore, the best choice is E.

Key to Positioning a Product or Brand Effectively Is Discovering