Asked by Taylor Giardinelli on Jun 11, 2024
Verified
Which of the following factors about a competitor is LEAST relevant when using a supply-side approach to market definition?
A) production costs
B) customer insights
C) distribution channels
D) manufacturing processes
Customer Insights
Deep understandings and interpretations of customer data, behaviors, and feedback aimed at improving product development, marketing strategies, and customer experiences.
Supply-Side
Refers to economic policies or theories focusing on boosting production and supply as the key to stimulating economic growth, as opposed to demand-side measures.
- Identify factors relevant and irrelevant to defining a market from a supply-side approach.
Verified Answer
RE
Ronjhae EmeryJun 14, 2024
Final Answer :
B
Explanation :
When using a supply-side approach to market definition, the focus is on the inputs and processes used by competitors to produce and distribute goods or services. Production costs, distribution channels, and manufacturing processes are all relevant factors to consider in this approach. Customer insights, however, are a demand-side factor and therefore are not as relevant in this context.
Learning Objectives
- Identify factors relevant and irrelevant to defining a market from a supply-side approach.