MARKET POSITION Meaning and
Definition
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Market position refers to the standing or reputation of a brand, product, or company within a specific market. It represents the perception and recognition that a business holds in the minds of consumers in relation to its competitors. Market position is determined by various factors such as market share, brand reputation, product quality, customer loyalty, and pricing strategy.
A strong market position indicates that a company or brand is considered a leader or a key player in its industry, with a considerable market share and a differentiated offering. It implies that the business has successfully carved out a unique identity and has established a competitive advantage that sets it apart from rivals. Companies with a strong market position often enjoy a loyal customer base, a high demand for their products or services, and the ability to charge premium prices.
On the other hand, a weak market position suggests that a company struggles to differentiate itself from competitors or lacks the necessary resources to effectively compete. It may have low brand recognition, limited market share, or difficulties in attracting and retaining customers. Consequently, businesses with a weak market position face challenges in generating sales, maintaining profitability, and growing their market presence.
Overall, market position reflects the perception of a brand or company in the market, and it plays a crucial role in determining its competitiveness, sustainability, and potential for growth.
Common Misspellings for MARKET POSITION
- narket position
- karket position
- jarket position
- mzrket position
- msrket position
- mwrket position
- mqrket position
- maeket position
- madket position
- mafket position
- matket position
- ma5ket position
- ma4ket position
- marjet position
- marmet position
- marlet position
- maroet position
- mariet position
- markwt position
- markst position
Etymology of MARKET POSITION
The word "market position" is a compound phrase made up of the words "market" and "position".
- "Market" originated from the Latin word "mercatus", which means "a trading place" or "a market". This word morphed into "mercatum" in Old French, and further evolved into the English word "market".
- "Position" has its roots in the Latin word "positio", which means "a placing" or "a position". It came from the verb "ponere", which means "to place" or "to put". Over time, this word made its way into Old French as "posicion", and then entered English as "position".
When combined, "market position" refers to the placement or location of a company, brand, or product in the marketplace.
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