Day: July 1, 2021

Jo’s Floorings is a business that installs linoleum floors, is considering the market positioning of its new range of wooden flooring products. 

Which of the following is a method of market positioning?

Select ONE answer:

1. Product range
2. Market sampling
3. Market mapping
4. Product orientation

Show your workings to arrive at your answer, and explain and justify your reasons:

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This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct ==> Definition of market positioning: How you differentiate your brand, product or service from your competitors, in the mind of the customer.  Market mapping is a diagram illustrating a range of positions a business, product or service can take in a market based on any two variables that are important to customers.  By using market mapping Jo’s Floorings will be able to identify where it compares with competitors on variables such as high versus low price, and linoleum versus wooden flooring.
4. Not correct

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