What must markets do to adapt to the needs of target customers?

What must markets do to adapt to the needs of target customers?



Answer: They must gain strategic advantage by positioning their brand and its offerings strongly against competitive brands and offerings in the minds of consumers. Each firm has to position itself in the market from the consumer's point of view depending on the company's strengths and weaknesses. It is essential to use the company's strengths to differentiate itself from competitors ("points of difference") and to reduce company's weaknesses ("points of parity").



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