What is market positioning and it different approaches with example from tourism industry?

Market positioning refers to the strategy of establishing a brand or product in the minds of consumers relative to competitors, emphasizing its unique qualities. Different approaches to market positioning include differentiation, where a brand highlights its unique features, and cost leadership, where it focuses on being the most affordable option. In the tourism industry, a luxury resort may position itself through differentiation by emphasizing exclusive experiences and high-end services, while a budget travel agency might focus on cost leadership by offering the lowest prices for group tours.