A Marketing Manager Has Just Learned About Generic Markets

question 124

Multiple Choice

A marketing manager has just learned about generic markets. This may lead the manager

• A) to see a larger set of potential competitors.
• B) to put less emphasis on market penetration or market development opportunities and more emphasis on product development opportunities.
• C) to think about new ways of satisfying the needs of her current customers.
• D) All of these alternatives are correct.

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Definitions:

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies with changes in quantity sold.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers at each price level.

Monopoly

A market structure characterized by a single seller or producer dominating the entire market, often resulting in limited consumer choice and higher prices.

Downward Sloping

Describes a line on a graph that depicts a decrease in value or quantity as another variable increases, commonly seen in demand curves.