Asked by Bimala Sharma Acharya on Jun 17, 2024

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Analyzing substitute products with similar attributes that customers consider during the buying decision is a method of defining a market using a ________.

A) generic competition method
B) product attribution method
C) demand-side perspective
D) supply-side perspective

Demand-Side Perspective

A viewpoint that emphasizes understanding and meeting the needs and preferences of customers rather than focusing exclusively on the supply side, such as production capabilities.

Generic Competition Method

A strategy used by companies to compete by offering a product or service that is comparable to a brand-name product but at a lower price.

  • Distinguish between different methods of market definition (demand-side vs. supply-side).
  • Elucidate the significance of evaluating alternative products in market assessment.
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KS
Katherine SandersJun 23, 2024
Final Answer :
C
Explanation :
Analyzing substitute products with similar attributes that customers consider during the buying decision is a demand-side perspective. This helps to define the market and understand customer preferences and needs. The generic competition method looks at all competitors in a market, the product attribution method looks at the features of a specific product, and the supply-side perspective focuses on the production and distribution of goods and services.