A Means of Displaying in Two Dimensions the Location of Its

question 127

Multiple Choice

A means of displaying in two dimensions the location of its own and competing products or brands in the minds of consumers is referred to as a(n)

• A) awareness matrix.
• B) growth-share matrix.
• C) market-product grid.
• D) perceptual map.
• E) product differentiation chart.

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Definitions:

Income Inelastic

Describes a good or service whose demand does not significantly change with a change in consumers' income.

Small Firms

Businesses with a relatively small number of employees or low volume of sales compared to larger industry players.

Social Security Payments

Government-provided payments to eligible individuals, such as retirees or disabled persons, financed through payroll taxes.