A(n) ________ is a group of firms producing a similar product or service. A firm's ________ is the limited portion of the industry that it goes after or to which it wants to appeal.
A) target market; industry
B) trade group; industry
C) industry; trade group
D) competitive group; target market
E) industry; target market

Question

Quizplus · Accepted Answer

An industry is a group of firms producing a similar product or service, while a firm's target market is the limited portion of the industry that it goes after or to which it wants to appeal. Therefore, the best choice is E.

A(n) ________ Is a Group of Firms Producing a Similar