A company which satisfies the needs of customers with same products are considered as __________?
Correct answer: A. competitor's
- A. competitor's
- B. industry
- C. Corporation
- D. organization
Explanation
Companies offering similar products to satisfy the same customer needs are competitors because customers can choose among their alternatives. An industry is the broader group containing such firms, not one company itself.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? support@testustad.com
About Marketing
Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
Practise Marketing
1,700 free Marketing MCQs from Management Sciences, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Management Sciences questions like this
Management Sciences is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Marketing questions
When the companies have better-trained employees' for the customer services, this differentiation is classified as ___________?
The group of firm's offer a class of products and substitutes for one another is classified as ___________?
The value proposition in which customer is focused, is the result of ___________?
When the companies have effective and efficient distribution channels, this differentiation is classified as _________?
The brand attributes associations that are not unique but similar to some other brands are classified as __________?
The brand association which can be made with the personal relevance is classified as _________?