A Market Dominated by a Small Number of Powerful Sellers

question 6

Multiple Choice

A market dominated by a small number of powerful sellers is known as a(n) _____ .

• A) oligopoly
• B) pure play
• C) short tail
• D) blue ocean
• E) greenfield

---

Definitions:

Warranty Program

A service offered by manufacturers or sellers to repair or replace defective products within a certain time period after purchase.

Consumer Perceptions

The understanding or viewpoint of customers regarding products, services, or brands based on their experiences and information.

Product Repositioning

The strategic process of changing the market's perception of a product or brand, often targeting a new audience or modifying its offering.

Market-product Grid

A matrix used to help businesses determine which products to offer in which markets.