A Starting Point in Defining a Competitive Frame of Reference

question 38

Multiple Choice

A starting point in defining a competitive frame of reference for a brand positioning is to determine ________-the products or sets of products with which a brand competes and which function as close substitutes.

• A) functional membership
• B) competitive field
• C) category membership
• D) value membership
• E) demand field

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Definitions:

Inflation Level

The pace at which the average price level of goods and services ascends, diminishing the value of money.

Base Year

A specific year against which economic or financial data is measured and compared.

Chain-Weighted Index

An economic measure that accounts for changes in both prices and quantities of goods and services over time, adjusting the weightings to better reflect reality.

Laspeyres Index

A price index used to measure the change in the cost of acquiring a fixed basket of goods and services of the same type and quantity over time.