Can you please assist me in summarizing the different marketing components by answering the following questions:
1. What is the relationship between differentiation and positioning of products or services?
2. What is the impact of the product life cycle on marketing?© BrainMass Inc. brainmass.com June 3, 2020, 6:44 pm ad1c9bdddf
What is the relationship between differentiation and positioning of products or services?
Product differentiation and positioning are two highly interdependent components of marketing in the sense that an organization's decision in either of these components is directly affected by the decisions and policies made for the other one.
The degree to which differentiation is sought by the company in its products or services is a direct consequence of the product positioning strategy of the company. For example, if the company wants to position its product as the one which targets only the high end or elite customers in the industry, then it has to come up with a high degree of differentiation in its product or service as compared to the bundle of products/services available for sale in the industry in order to make the value proposition to the clients "visible" and justify the premium prices charged by the company. Therefore, we can observe that the positioning strategy decided by the company ...
Differentiation, positioning, product life cycle