In NewShoes, your firm starts out selling a basic version of athletic shoes, just like all the other competitors in the industry. An important marketing task for a firm is to differentiate its brand from the competition, making it more attractive to its target customers. In the simulation you can do this by improving the product and setting its price in line with consumer expectations. By mapping the version and price of all the products in the industry, you can get a good idea of how you are positioned relative to the competition. Adding customer satisfaction to the map may help you understand how customers perceive the value of each product.

1. How is your firm’s product positioned in the industry?

2. Which company has the highest customer satisfaction in the market? What is the version and price of its product?

3. Which company has the lowest customer satisfaction in the market? What is its product version and price?

4. What can you conclude about the relationship of product version, price, and customer satisfaction in NewShoes?

Answer rating: 100% (QA)

How is your firms product positioned in the industry The product is positioned in the industry as a ... View the full answer