The Axes on a Perceptual Map Are

question 1

Multiple Choice

The axes on a perceptual map are

• A)sales and profitability.
• B)two product attributes, ranging from high to low on that attribute.
• C)market share and market growth rate.
• D)product variety and profitability.
• E)customer perceptions of the firm's product versus the brand of the firm's principal competitor.

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Definitions:

Rent

The payment made by a tenant to a landlord for the use of a property or space.

Substitution Effect

The economic principle that as prices rise or income decreases, consumers will replace more expensive items with less costly alternatives.

Output Effect

The Output Effect describes how changes in price levels affect the quantity of goods and services produced in an economy, influencing overall economic output.

Substitute Resources

Alternative means or materials that can be used to achieve the same function or production goal in the absence of preferred resources.