Which of the following best describes the notion of "market positioning?"
a. The geographic location of the headquarters of a corporation.
b. The place the product occupies in consumer's minds relative to competing products.
c. The position that a company holds in the market in terms of size relative to competitors.
d. A group of organizations that have similar wants and needs.
e. The process of increasing a firm's overall sales and as a result, increasing its market share.
Answer: b. The place the product occupies in consumer's minds relative to competing products.