Product Class
A product class or product market can be defined as the set of products and brands which are perceived as substitutes to satisfy some specific consumer need. The term, product category, is also used interchangeably with product class and product market.
A brand cannot decide upon its positioning unless it knows the structure of the market and positioning of other brands so it can lodge itself accordingly in the perpetual space of the consumer.
With respect to the AC market the knowledge of the market comprises of the kinds of brands available namely Indian, Japanese, Korean , their market shares, the capacity of ACs ranging from 1 to 3 tons,
the technology being offered and at what prices. Also the players have to consider the unorganized market and the substitutes like coolers which have a sizeable demand in the northern region of India
A product class or product market can be defined as the set of products and brands which are perceived as substitutes to satisfy some specific consumer need. The term, product category, is also used interchangeably with product class and product market.
A brand cannot decide upon its positioning unless it knows the structure of the market and positioning of other brands so it can lodge itself accordingly in the perpetual space of the consumer.
With respect to the AC market the knowledge of the market comprises of the kinds of brands available namely Indian, Japanese, Korean , their market shares, the capacity of ACs ranging from 1 to 3 tons,
the technology being offered and at what prices. Also the players have to consider the unorganized market and the substitutes like coolers which have a sizeable demand in the northern region of India