This topic is given an overview for entrepreneur on selecting a market and establishing a position in the market. Besides, the purpose and the importance of market segmentation, selecting a target market, and establish unique position in target market described in the topic. The importance of the ability to position a company’s products on benefits rather than features and ways to establish company brand also will learn in this topic. Four component of the marketing mix also been detail introduced in this topic such as the difference between a core product and an actual product, contrast cost-based pricing and value-based pricing, differences between advertising and public relations, and weigh the advantages and disadvantages of selling direct versus selling through intermediaries.
