Multimarket Competition Occurs When Firms

question 31

Multiple Choice

Multimarket competition occurs when firms:

• A) sell different products to the same customer.
• B) have a high level of awareness of their competitors' strategic intent.
• C) simultaneously enter into an attack strategy.
• D) compete against each other in several geographic or product markets.

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Definitions:

Market Position

The standing or rank of a company, product, or brand in a particular market, often relative to its competitors.

Reference Pricing

Psychological pricing strategy common in retailing goods for which consumers have an idea of what the price “should be.”

Price Lining

A pricing strategy where products or services are grouped into different price ranges to target various consumer segments.

Retail Goods

Products that are sold to the end consumer for personal or household use.