An Advantage to Using a Perceptual Map Is That It

question 65

Multiple Choice

An advantage to using a perceptual map is that it

• A)shows the firms strengths, weaknesses, opportunities and threats.
• B)shows which products of a firm are most profitable.
• C)shows how other companies are marketing their products.
• D)can highlight potential market positions that might be underserved.
• E)it is the quickest way to determine market segments.

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Definitions:

Prototype Testing

The process of evaluating the design, functionality, and performance of a preliminary version of a product before it goes into mass production.

Target Market

This term identifies the specific group of consumers at which a product or service is aimed, defined by demographic, geographic, and psychographic characteristics.

Production Costs

The expenses involved in creating a product or service, including materials, labor, and overhead costs.