Generic and Product Markets

Identifying generic and product markets is important to the development of an overall marketing strategy. toward identifying profitable target markets and developing the most effective marketing mix.

By understanding the generic market, the marketing team can develop a broad understanding of the wants that it may fill, but also better understand the scope of competition. Generic markets are defined by broadly types of customers and the geographic area, but do not include any product definition. Product market defi identify those customer needs and include the type of product that potentially can fill those needs.

Identify the elements of generic and product market definitions on the chart. Move each label to the correct

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Fun, safe, entertainment away from home

Families with children of different ages

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