Asked by Binita Kandel on Sep 28, 2024
What is the lowest level of competition?
A) generic competition
B) budget competition
C) product category
D) product variant
Product Variant
Different versions of a product that a company offers to meet diverse customer needs or preferences, such as size, color, or features.
Generic Competition
Competition between brands or products that are not differentiated by a patent or specific features, often based solely on price.
- Identify the various tiers of product rivalry and their consequences in market evaluation.
Learning Objectives
- Identify the various tiers of product rivalry and their consequences in market evaluation.
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