Asked by kkoln kkijknjn on Jul 07, 2024
Verified
In a product market, different organizations have exclusive customer bases.
Product Market
The marketplace where final goods or services are traded between sellers and buyers, focusing on competition, supply, and demand dynamics.
Customer Bases
The group of customers who repeatedly purchase the goods or services of a business.
- Understand the importance of extrinsic market variables, like constraints in the product market, in determining compensation.
Verified Answer
IL
Ibrain LozoyaJul 08, 2024
Final Answer :
False
Explanation :
In a product market, organizations often compete for the same customers, and customer bases can overlap significantly. Exclusive customer bases are rare due to the competitive nature of most markets.
Learning Objectives
- Understand the importance of extrinsic market variables, like constraints in the product market, in determining compensation.