A generic market is one in which
A)products from different industries compete for customers by trying to satisfy the same basic need.
B)no firm can establish a competitive advantage.
C)a number of firms are all offering new or improved products in an effort to increase sales.
D)one seller has a patent for a superior product and other competitors imitate the leader with inferior products.
E)None of these answers is correct.

Question

Quizplus · Accepted Answer

A generic market is a market with broadly similar needs-sellers offering various,often diverse,ways of satisfying those needs.

A Generic Market Is One in Which