Which of the Following Statements About Place Is FALSE

question 257

Multiple Choice

Which of the following statements about Place is FALSE?

• A)Place variations are required when target markets have different needs.
• B)Product classes suggest Place objectives.
• C)Place decisions have relatively little impact on competition in a product-market.
• D)Place decisions have longer-run implications than Price decisions.
• E)Place decisions must take into consideration when customers want products.

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Definitions:

Perfectly Elastic

A situation in which the quantity demanded or supplied responds infinitely or massively at a particular price point.

Herfindahl Index

A measure of market concentration used to determine the level of competition within an industry, calculated by summing the squares of the market shares for all firms in the market.

Differentiating Products

The strategy of making a product appear distinct from similar products in the market through branding, design, or quality improvements.

Concentration Ratio

A measure used to assess the degree to which a small number of firms dominate within an industry, often expressed as a percentage of total market share.