Match Each Definition to the Corresponding Term

question 96

Multiple Choice

Match each definition to the corresponding term.
-_____ is a strategy of developing and distributing goods and services more quickly than other firms.

• A)environmental scanning
• B)environmental management
• C)competitive environment
• D)time-based competition
• E)economic environment
• F)demarketing
• G)consumerism
• H)marketing ethics
• I)social responsibility
• J)green marketing
• K)oligopoly
• L)gross domestic product
• M)planned obsolescence
• N)inflation
• O)socially responsible marketing
• P)political-legal environment
• Q)VoIP
• R)discretionary income
• S)antitrust
• T)strategic alliance

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Definitions:

Monopolistic Competition

A market structure where many firms sell products that are similar but not identical, allowing for product differentiation.

Product Differentiation

The practice of setting a product or service apart from those in the marketplace to increase its attractiveness to a designated target market.

Market Price

The going rate for purchasing or selling a good or service in a specified market at this time.

Output Price

Refers to the price at which goods or services are sold in the market, affecting producers' revenue.