Self-Test, Ch. 6 - Missed Questions

List and briefly describe the four different levels of competition.

a. Product form/type - the narrowest definition of competition that results in the fewest competitors and includes only products or services of the same product type. b. Product class/category - a broader definition than product form that results in a product segment of the industry. c. Generic competition - incorporates the customer's notions about substitutability. At this level, competition is defined as the products or services that the customer views as fulfilling the same need. d. Budget competition - a product that is substitutable in the customer's budget.

The final level of competition and the most general is called which of the following?

budget competition

At which of the following levels of competition must the marketer customers that product form is the best in the product category?

product category competition