Which of the Following Statements Best Describes a Characteristic of Geographic

question 15

Multiple Choice

Which of the following statements best describes a characteristic of geographic specialization focus strategies?

• A)Offers a variety of products and/or sells to a variety of customer groups within a narrow geography
• B)Offers an array of product varieties to a limited class of customers
• C)Caters to the particular needs of the customer group served
• D)Offers a limited set of products to an array of different customer groups
• E)Does an especially good job satisfying a subset of the needs of the consumer groups being served

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Definitions:

Place Utility

The value added to products by making them available at a location convenient to consumers.

Channel Intermediaries

Businesses or individuals that act as intermediaries in the distribution process, facilitating the movement of goods from producers to consumers.

Value Creation

The process of enhancing product or service offerings to increase their worth and appeal to consumers, thereby generating more sales or customer loyalty.

Four Utilities

The four types of utility are form, place, time, and ownership (possession), which collectively describe how a product or service adds value to a consumer's life.