Answer :
Final answer:
Positioning in marketing is crucial for creating a unique market space and reducing competition through product differentiation and establishing a global brand presence.
Explanation:
Positioning is the place a product holds in consumers' minds compared to competitors in the STP process. This positioning is influenced by company communications that shape how a product is perceived by the target market. By effectively positioning a product, a company can differentiate itself and create a unique space in the market.
Product differentiation is crucial for reducing competition by highlighting unique features that make the product stand out. This strategy shifts the focus from price competition to other factors like product characteristics, distribution, and promotion.
Global branding and positioning require a clear, globally applicable positioning platform and a strategic partnership for consistent execution worldwide. Companies can start with a locally developed positioning or identify a globally relevant consumer insight to establish a strong global brand presence.
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