Which of the following statements is true of generic markets?
a) The generic market includes only three of four aspects of the product-market definition—customer needs, customer types, and geographic area. It does not include product type.
b) In a generic market, sellers have to focus primarily on how one seller's product is better than that of another producer.
c) In a generic market, similar product types compete with each other.
d) A generic market description looks at markets narrowly and from a supplier's viewpoint.
e) In a generic market, customers' needs differ from each other significantly.
Answer A