The First Step in Constructing a Market Attractiveness/competitive Position Matrix

question 70

Multiple Choice

The first step in constructing a market attractiveness/competitive position matrix involves:

• A)assessing the current position of each potential target market on each factor.
• B)projecting the future position of each market based on expected environmental,customer,and competitive trends.
• C)identifying the most relevant criteria to measure market attractiveness and competitive position dimensions.
• D)developing a business strategy to assess product performance.

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Definitions:

Scatter Plots

Graphical illustrations that use cartesian coordinates to display values for typically two variables, allowing for the detection of any correlational patterns.

Dot-scale Diagrams

A graphical representation where dots are used to depict frequencies of categories for small or medium-sized datasets.

Box-and-whisker Plots

Graphical representations of a dataset that show the distribution's minimum, first quartile, median, third quartile, and maximum.

Cumulative Relative Frequency

A statistical measure showing the sum of relative frequencies up to a certain class or category, indicating the proportion of data points that fall within that category or below.