Market-Product Grid Refers to

question 80

Multiple Choice

market-product grid refers to

• A) a visual representation of all products offered within a specific product class.
• B) a framework used to compare the relative market share of one firm's product offerings to those of its competitors.
• C) a technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.
• D) a framework used to relate the market segments of potential buyers to products offered or potential marketing actions by an organization.
• E) a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products.

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Definitions:

Quantity Demanded

The specific amount of a good or service that consumers are willing to purchase at a given price point, at any given moment.

Price-Consumption Curve

A curve that shows how a consumer's optimum basket varies with changes in the price of a good, holding other factors constant.

Shifting Demand Curve

A shifting demand curve occurs when there is a change in a non-price factor, such as consumer preference or income, altering the quantity demanded at any given price.

Price-Consumption Curve

A graphical representation that shows the combination of two goods that a consumer can purchase at different prices, keeping utility constant.