Compare and contrast the service positioning matrix

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Compare and contrast the service positioning matrix and the product process matrix in terms of their differences and similarities.

Both offer a hierarchal approach to fundamental necessity; however the precise focus is different. Service positioning matrix utilizes the needs and wants of a given customer group and targets the requirements in order to obtain their business. Product process matrix tends to focus on how to maximize the product portfolio on a per customer basis, such as with Verizon and the phone, internet and TV package. Both share the common goal of maximizing profit, but differ in the manner in which revenue of optimized.

Provide at least one example currently used in business for each of the matrixes and evaluate their benefits and limitations within the industry you chose.

Reference no: EM132585069

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