QUESTION IMAGE
Question
indirect competition
people’s interests and values
the descriptive characteristics of a market such as age, gender, race, income, and educational level
occurs when a business competes with other companies offering products that are not in the same product or
rivalry among businesses on the basis of price and value
market share
market share
price competition
non price competition
a group of people or an organization that an individual admires, identifies with, and wants to be a part of
directs a company’s marketing mix at a large and heterogeneous group of consumers
when businesses decide to emphasize factors of their marketing mix other than price
- Indirect Competition: This refers to competition between businesses that offer non-substitute products, so the matching definition is the one about competing with firms offering non-same category products.
- Market Share: This term refers to the portion of a market controlled by a business, so it matches the repeated term (the correct definition aligns with the concept of a business's portion of the market, the option "market share" is the term, and the matching definition would correspond, but for the given options, the correct match for the term market share is the label itself, but for the competition terms:
- Price Competition: Rivalry based on price and value, so it matches the definition about competing on price and value.
- Non Price Competition: Competition focused on marketing mix factors excluding price, so it matches the definition about emphasizing non-price marketing mix elements.
(Note: The first two unlabeled definitions: "people's interests and values" and "descriptive characteristics..." are not matched to the given terms here; the terms provided are Indirect Competition, Market Share, Price Competition, Non Price Competition.)
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- Indirect Competition → occurs when a business competes with other companies offering products that are not in the same product category
- Price Competition → rivalry among businesses on the basis of price and value
- Non Price Competition → when businesses decide to emphasize factors of their marketing mix other than price
- market share → (the term refers to a business's portion of the total market sales, corresponding to the labeled option)