Product Market Structure

The generic product-market includes a broad group of products that satisfy a general, yet similar, need. For example, several classes or types of products can be combined to form a generic product-market for kitchen appliances The starting point in product-market definition is to determine the particular customer need or want that a group of products satisfies, such as kitchen functions. Since people with a similar need may not satisfy it in the same manner, generic product-markets are often heterogeneous, that is, they comprise different end-user groups. The product-type product-market includes ail brands of & particular product type orclass, such as ovens or refrigerators. The product type is a product category or product

classification that offers a specific set of benefits intended to satisfy a customer's need or

want in a specific way. Differences in products within a product-type (class) product-

market may exist, creating product-variants.6 For example, them are electric, gas, and

microwave ovens