1. Identify the target market .i.e. defining the market in which the product or brand will compete
2. Identifying the attributes (also called dimensions) that define the product 'space'
3. Collecting information from a sample of customers about their perceptions of each product on the relevant attributes i.e. determine specific customer wants, needs, benefits desired
4. Determine each product's share of mind i.e. analyze attributes and perceived images of present and potential competitors
5. Determine each product's current location in the product space
6. Determine the target market's preferred combination of attributes (referred to as an ideal vector)
7. Compare your position and that of competitors on each dimension valued by customers (perceptual mapping).
8. Identify a unique position that offers desired benefits to target market that are not offered by competitors.
9. Design marketing program to communicate benefits and persuade customers.
Lellah answered the question on November 5, 2021 at 08:20
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