Product Differentiation Exists Within an Industry If

question 43

Multiple Choice

Product differentiation exists within an industry if

• A) there are no substitutes for a product.
• B) there are close but not perfect substitutes for a product.
• C) the firm can sell all it wants at the chosen price.
• D) there is a monopoly.

---

Definitions:

Core Target Market

The specific group of consumers identified as the most likely to buy a company's products or services, often defined by demographic, geographic, and psychographic characteristics.

Compelling Picture

An image or representation that forcefully attracts attention or interest, often used in marketing to evoke emotion.

Product Directed

Concerned with marketing or advertising strategies focused specifically on the features and benefits of a product to influence consumer purchasing decisions.

Firm Wants

Describes the specific needs or desires that a company aims to fulfill through its operations, product offerings, or strategic decisions.