1. Product positioning is also known as market positioning, and it means to dete
ID: 465708 • Letter: 1
Question
1. Product positioning is also known as market positioning, and it means to determine what place the product will hold relative to the competitor’s products. For example a low end retailer is Walmart and a high end retailer is Neiman Marcus. In your opinion, what restaurant has the middle-ranged consumer as its target market? Briefly explain why you chose that store. 2. Repositioning or product repositioning means to change the perception of a product or brand in the mind of the consumer in relation to the competitor’s brands. One example is oatmeal. In your opinion, what product needs to be revised, repositioned, or repacked? Briefly explain how the product should be updated. 3. Scenario: You are the manager at a medium ranged restaurant and a new food item will be on the new menu. Briefly describe what you will do to entice consumers to try the new food item.
Explanation / Answer
Ans 1 - McDonalds and KFC are two middle ranged consumer restaurants. It targets the middle ranged consumer who can spend a fair amount of money to eat at their restaurants. The prices are of medium range which a common man can afford.
Ans 2 - For a restuarant, every product or the ingredients used are to be customized according to the taste preferences of the local public where the restaurant has been opened. However, the ambience and environment can be according to the country of origin. For example, a Japanese restaurant in America customize its cuisine to suit the average american taste buds however, it keeps the presentation of the food the same way it is served in Japan.
Ans 3 - Keeping the cuisine according to the local preferences and the presentation of the dishes & environment of the restaurant domestic to the country of origin. Also keeping the prices according to the purchasing power of the average person helps in motivating a consumer to try the new food.
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