To Determine the Public's Knowledge of a Product,a Marketer May

question 61

Multiple Choice

To determine the public's knowledge of a product,a marketer may ask consumers to name five technology companies.Apple is the brand most often listed first; this is considered to demonstrate: 

• A) top-of-the-mind awareness. 
• B) purchase intent. 
• C) ethnocentrism. 
• D) market awareness.

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Definitions:

Concentration Ratio

A metric used to assess the degree of market concentration by measuring the market share of the largest firms within an industry.

Market Share

The segment of the market that is dominated by a specific company or product.

Concentration Ratio

A measurement used in economics to assess the extent of market share controlled by the top firms within an industry.

Oligopolization

The process by which a market or industry comes to be dominated by a small number of firms, leading to reduced competition.