Solution By Steps

Step 1: Understanding Product Positioning

Product positioning refers to how a product is perceived in the minds of consumers, particularly in relation to competing products. It is a strategic exercise that marketers use to establish the identity of a product in the customer’s mind.

Step 2: Evaluating the Statements

The first statement is true because positioning is always in relation to competitive products.

The second statement is false because positioning can change over time due to various factors like new competitors, changing consumer preferences, or rebranding efforts.

The third statement is true as positioning is about the perception of the product in the consumer’s mind.

The fourth statement is false because while price can be a factor in positioning, it is not a requirement; positioning can be based on various attributes like quality, benefits, or lifestyle association.

Final Answer

The two true statements about product positioning are:

It is in relation to competitive products.

It exists in the mind of the consumer.

Key Concept

Product Positioning

Key Concept Explanation

Product positioning is the process of establishing and maintaining a product’s identity in the minds of consumers relative to competing products.