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What type of market is one in which producers compete to produce better and more affordable products and services?

competitive market (A+)


What is differentiated marketing and what are five costs associated with this type of marketing?

Differential marketing is when a company targets more than one segment and has a different approach for each. The five costs associated with it are technology costs, price/quality, customer service, product differentiation, and user differentiation. All of these 5 things can effect the cost to run a business.


What type of marketing strategy has MSCSB been pursuing?

MIMOS' mission is to pioneer information and communication technologies (ICT) to grow globally-competitive indigenous industries.


What type of business can benefit from website advertising?

Every business that exists can benefit from this type of advertising. Service related industries that advertise specials gain an increased level of foot traffic. Make sure that you target your particular customers though.


What is a Market where Many companies sell products that are similar but not identical?

A market where many companies sell products that are similar but not identical is known as a monopolistic competition market. In this type of market, firms offer differentiated products, allowing them to have some degree of pricing power. Examples include the restaurant industry or clothing brands, where products vary in quality, features, and branding despite serving similar needs. This differentiation helps companies attract specific customer segments while competing with one another.