Questions:
Business: Consumer Markets
1. How do you define a consumer market? What is the one most important reason for wanting to define a consumer market (i.e. Why)
2. What criteria should you use to determine the axes on a Product Position Map? Give an example of those axes for a bicycle retail store
3. How would you know who your competitors are? Who determines who they are?
4. What is the main problems companies face in high velocity markets? Give an example.
5. What is the product classification for a new TV set purchased by a consumer? Explain your choice.