Final answer:
Positioning refers to the act of differentiating a brand in a consumer's mind in relation to the brand's competitors.
Step-by-step explanation:
Positioning refers to the act of differentiating a brand in a consumer's mind in relation to the brand's competitors. It involves creating a unique and compelling image for the brand that sets it apart from other similar brands in the market.
For example, Apple has positioned itself as a high-end, innovative, and user-friendly brand in the tech world. This positioning differentiates Apple from its competitors, such as Samsung or Dell, and creates a distinct perception in consumers' minds.
By implementing effective positioning strategies, companies can build a strong brand identity, attract customer loyalty, and gain a competitive advantage in the marketplace.