Recently,the Only Type of Car Available for Anthony to Rent

question 33

Multiple Choice

Recently,the only type of car available for Anthony to rent on a business trip was a compact,fuel-efficient Japanese import. Anthony was surprised at the comfort and performance of the car. He is in the market for a new car and had previously considered only buying another luxury SUV. Now,he is thinking about the significant cost savings he would have if he bought the compact vehicle rather than a new SUV. This is an example of the competitive risk that

• A)a competitor's products can convey a product's differentiated features to a customer at a significantly reduced price.
• B)a product imitation can cause customers to perceive that competitors offer essentially the same good.
• C)experience can narrow a customer's perceptions of the value of a product's differentiated features.
• D)brand loyalty insulates a company from rivalry with competitors.

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Definitions:

Multiple Market Segments

Targeting multiple distinct groups of potential consumers, each with different needs and characteristics, within a marketing strategy.

One Product

The term "one product" refers to a business strategy focusing on the development, marketing, and sale of a single product.

Market Segmentation

The process of dividing a market of potential customers into groups, or segments, based on different characteristics.

Marketing Program

A comprehensive plan that integrates various marketing strategies and tactics to achieve specific business objectives.