Question 1
Brand positioning is essential for companies wishing to develop competitive advantage in a market. Strategies for brand positioning are based on two main platforms, competitors and consumers. Quality and price of a product are the two main attributes used for effective positioning of a product. This was also confirmed by Michael Porters when he came up with the generic strategy for competitive advantage. According to porter’s generic strategy, there are three approaches that can be applied to any product in any industry for competitive positioning in a market. The three approaches include, cost leadership, differentiation, and market focus. Differentiation entails creating a unique ...
