A generic market
A) related to a consumer's functional need is smaller than a related product-market.
B) might involve competition among skis, roller blades, bicycles, and ice skates.
C) might logically include rubber, cement, a lamp, and a CD player.
D) is usually narrower than the firm's target market.
E) All of these choices are correct.

Question

Quizplus · Accepted Answer

A generic market describes a market of products that are substitutable in meeting a consumer's needs, despite being different in terms of their specific function or form. Thus, competition among skis, roller blades, bicycles, and ice skates, which can all satisfy the need for recreational activity or personal transportation, exemplifies a generic market.

A Generic Market