Those Characteristics of a Product That Make It Superior to Competitive

question 298

Multiple Choice

Those characteristics of a product that make it superior to competitive substitutes are referred to as

• A)core benefit propositions.
• B)marketing mix elements.
• C)points of difference.
• D)marketing attributes.
• E)product protocols.

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Definitions:

Demand Increases

A situation where the quantity of a good or service that consumers are willing and able to purchase at a given price rises.

Competitive Market

A market structure characterized by a large number of buyers and sellers, where no single entity has the power to significantly influence market prices.

Market Supply

The total amount of a product that sellers are willing and able to sell across all markets at a given price level over a specific time period.

Market Demand

The cumulative volume of a good or service that all buyers in a market are prepared and able to buy at a range of prices.