Which of the Following BEST Describes Competitive Product Analysis

question 21

Multiple Choice

Which of the following BEST describes competitive product analysis?

• A) The principle that quality belongs to each person who creates it while performing a job
• B) The consistency of a product's quality from unit to unit
• C) The process by which a company analyzes a different company's products to identify desirable improvements
• D) The sum of all activities involved in getting a high-quality product into the marketplace
• E) Examining a product to improve its form utility

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Definitions:

Market-Product Grid

A matrix used to analyze and display the relationship between different markets (or customer groups) and the products offered, assisting in strategic decision-making.

Marketing Actions

Activities taken by organizations to promote the buying or selling of a product or service.

Market Segments

The division of a market into distinct groups of buyers with different needs, characteristics, or behaviors, who might require separate products or marketing approaches.

Market-Product Grid

A matrix used to represent the relationships between different markets (customer groups) and products, often to identify market segmentation or product differentiation opportunities.