The Main Difference Between a Generic Market and a Product-Market

question 74

Multiple Choice

The main difference between a generic market and a product-market is that:

• A) a generic-market involves a less similar set of needs than does a product-market.
• B) a product-market is usually larger than a generic market.
• C) product-markets usually don't involve competition, but generic markets do.
• D) sellers in a generic market are more concerned with prices than sellers in a product-market.
• E) There is no difference between the two.

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Definitions:

Competitive Pressures

The forces in a market that impact the competitiveness, including rivalry among existing competitors and the threat of new entrants.

Career Management

The ongoing process of setting personal career goals and planning steps toward achieving them, often involving skill development and job search strategies.

Personality

The convergence of qualities and characteristics that form a person's distinctive individuality.

Immediate Environment

The immediate surroundings, conditions, or influences affecting an individual or entity at a given time.