Question

Essay Question Your answers should be logical, coherent, thorough, complete and free of error. An essay question is designed to test understanding of the concepts involved in the question, the relationship of those concepts to each other, and how those concepts play out in the marketplace. Therefore, this essay requires a plan, which will identify the concepts involved, and then point out how the relationships work. If this were about a marketing or international business concept, the sections would explain each concept, explain how the concepts are related to each other, and give examples of how the concepts are present in the marketplace. Essay should consist of: -Introduction -3 Body Paragraphs -Conclusion The writer must make sure that the important points are included, the relationships are explained, and the examples are relevant. All this and there should be an error-free, logical, coherent argument underpinning the essay so that it makes sense to the reader. Merely mentioning the concepts without explaining them and how they are connected will result in a poor grade. Once you have identified and explained the concepts (probably a paragraph - 4 possibly more sentences - for each concept) you will have another paragraph explaining the links between the concepts and examples of marketplace (real life) situations. Good Luck!

1) How can the same product have a different position in two different markets? This is clearly something that needs careful explanation to make it understood. Explain in detail using example

Answer 1

Product positioning varies across different markets due to factors like cultural values, economic status, and consumer behavior, requiring tailored marketing strategies. Examples include luxury cars positioned differently in emerging versus established markets, and the iPhone seen as affordable in the US but luxurious in emerging economies. Adapting to these market differences is essential for international success.

Step-by-step explanation:

Product Positioning Across Different Markets

Product positioning is an essential concept in business and marketing that allows products to appeal to particular market segments. It involves tailoring the marketing mix elements such as price, promotion, place, and product to fit the preferences and expectations of the target audience. The notion is that the same product can occupy different positions in various markets due to differences in cultural values, economic status, competition, and consumer behavior. For instance, a luxury car brand like Mercedes-Benz may be positioned as a status symbol in emerging markets but as a high-quality and safety-focused choice in established markets where luxury cars are more common.

The relationship between product positioning and market characteristics is integral to success in international business. Different markets will have varying levels of receptivity to certain product attributes, leading to a need for multilateral positioning strategies. A successful positioning strategy capitalizes on understanding these differences and crafting marketing campaigns that resonate with each market's unique dynamics. A practical example could be Apple's iPhone, which is marketed as an affordable technology option in the United States but may take on an aspirational and luxury symbol in countries with emerging economies.

In conclusion, understanding market differences and adapting positioning strategies accordingly is key to international marketing success. Staying attuned to local market demands allows businesses to maintain a competitive edge and foster brand loyalty across diverse consumer bases.