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Positioning is the final stage in the 'STP' process and focuses on how the customer ultimately views your product or service in comparison to your competitors and is important in gaining a competitive advantage in the market. [12] Therefore, customer perceptions have a huge impact on the brands positioning in the market.
It is positioned as a complement to the Lean Startup framework, specifically addressing the gap left by tools like the Business Model Canvas and Minimum Viable Product. [ 13 ] Stevenson et al. (2024) mention MON as one of the core tools within the lean start-up framework , alongside others like the Business Model Canvas and iterative customer ...
Competitive analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. [1] This analysis provides both an offensive and defensive strategic context to identify opportunities and threats.
The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
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In marketing, the unique selling proposition (USP), also called the unique selling point or the unique value proposition (UVP) in the business model canvas, is the marketing strategy of informing customers about how one's own brand or product is superior to its competitors (in addition to its other values). [1]
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Cars that are positioned close to each other are seen as similar on the relevant dimensions by the consumer. For example, consumers see Buick, Chrysler, and Oldsmobile as similar. They are close competitors and form a competitive grouping. A company considering the introduction of a new model will look for an area on the map free from competitors.