A Customer Perceptual Map May Reveal That There Is No

question 1

Multiple Choice

A customer perceptual map may reveal that there is no available white space for your venture. In other words, competitors currently occupy all the valuable landscape. What could an entrepreneur do in this case?

• A) Abandon plans to compete in this market
• B) Add an axis to the perceptual map that no one has used before to see if new white space emerges
• C) Reposition the competitor and take over its occupied space
• D) All three are possible options

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Definitions:

Marginal Productivity

The additional output generated by employing one more unit of a specific factor of production while holding other factors constant.

Professional Soccer Players

Athletes who are paid to play soccer as their main occupation, often participating in national and international leagues.

Resource Demand Schedule

A table or graph that shows the quantity of a resource demanded at various price levels, illustrating how demand changes with price.

Purely Competitive Market

A market structure characterized by many buyers and sellers, where no single entity has enough power to influence the market price of goods or services.