Commoditize

Commoditize

Assessment

Interactive Video

Business

University

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary factor that distinguishes commodities in the market?

Customer service

Packaging

Price

Brand reputation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How might a firm attempt to differentiate its product in a commoditized market?

By improving customer service

By offering a wider range of colors

By charging a higher price to suggest exclusivity

By increasing the product size

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a natural outcome in a competitive marketplace according to the video?

Commoditization

More product recalls

Increased advertising

Higher customer loyalty

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What can disrupt the process of commoditization in the market?

A new advertising campaign

An increase in market regulations

A decrease in production costs

A technological change or shift in customer preferences

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to new products in the market over time due to competition?

They become less popular

They become more commoditized

They become more expensive

They become more unique

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