What aspect of a marketing strategy focuses on how a product is perceived in the market?

Brand positioning is the aspect of a marketing strategy that focuses on how a product is perceived in the market. It involves defining how a product is different from competitors and what unique value it offers to customers. Effective brand positioning aims to create a distinct image in the minds of consumers, aligning the product’s attributes with the target audience's needs and preferences. This process includes identifying the target demographic, understanding the competitive landscape, and crafting messaging that resonates with potential buyers.

In contrast, price setting pertains to determining the appropriate price for a product, which can influence consumer perception but is not primarily about how the product is viewed in the marketplace. Product development involves creating or enhancing a product to meet consumer needs or innovate features, while distribution channels are concerned with how the product reaches customers. While all these elements play a role in marketing, brand positioning is specifically focused on shaping consumer perception and brand identity in the market.