Positioning the Business Ideas (08)

Positioning the Business Ideas

Positioning the business idea is identifying correct place in the market segment comparing yo the rival firm
so that the firm can gain a competitive advantage.This include,
1.number of competitors
2.strength of competitors
3.competitive advantage
4.market mapping


Market Mapping
Market mapping is plotting down different terms in the industry on a diagram based on two key variables
to identify the exact strategy position of the firm in the market segment.It helps the firm to identify the market
gaps in the segment and also it show where exactly the product stand in the market in the market segment.
Ex:(image)

Competitive Advantage

A strategic advantages a firm has over the rival can be called as competitive advantage.
Ex:quality of the products
   brand name
   cheaper prices
   consumer satisfactions

Adding value

Adding value is the different between the cost of input and the price.It simply can be defined as the process
of increasing the value of the products by adding additional features ti the product.

•    Adding Sofa's to the waiting areas
•    beautiful receptions
•    Air conditioning the shop

Stake holder

Any party who has interest about the business activities because they affect and get affected
by the business activity.
Ex:owners,managers,employees
   government,pressure groups,inverters
   consumers,suppliers,local community,competitors