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4. Identify three common ways businesses position their products in the marketplace.

5. State the market share formula.

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Note: Please provide the complete information if needed.



Answer :

GinnyAnswer

Final answer:

Businesses position products through differentiation, cost leadership, and niche marketing. Market share is calculated using a specific formula.


Explanation:

Product positioning in the marketplace:

  1. Differentiation: Offering unique features or benefits that set the product apart from competitors (e.g., Apple products).
  2. Cost leadership: Providing products at lower prices than competitors (e.g., Walmart).
  3. Niche marketing: Focusing on a specific segment with specialized needs (e.g., Tesla targeting electric car enthusiasts).

Market share formula: Market share = (Company's sales revenue / Total market sales revenue) x 100%


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