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There’re many types of markets, but the most fundamental distinction among them involves the buyer’s use of the good or service being purchased (individual or organisation). Identifying and choosing targets allows the marketer to tailor marketing mixes to a group’s specific needs.
3) Planning a market position and developing a marketing mix strategy
A market position represents how consumers perceive a brand relative to its competition. The object of positioning is to determine what distinct position is appropriate for the product. The marketing mix an organisation selects depends on the organisation’s strategy for positioning its product relative to the competition...
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