Asked by Esperanza Trevino on Sep 28, 2024

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Defining a market primarily depends on the ________ that customers seek and the ________ that customers consider.

A) benefits; alternatives
B) brands; products
C) markets; benefits
D) products; prices

Alternatives

Other options or choices available to consumers or businesses that can serve as substitutes for a particular product, service, or course of action.

Benefits

The advantages or positive outcomes that result from actions, policies, products, or services.

  • Understand the concept and importance of market definition.
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Verified Answer

BE
Barry Elliott1 day ago
Final Answer :
A
Explanation :
Defining a market is based on the benefits that customers seek and the alternatives that customers consider. This means understanding what benefits customers are looking for when considering a product or service, as well as understanding what other options are available to them in the marketplace. Brands, products, markets, and prices are all important factors to consider when defining a market, but they are secondary to the benefits and alternatives that customers prioritize.