Question

Bill is a yacht broker in the southeastern United States. For years he has had difficulty selling large yachts locally because there were few places to dock these boats. Yachts and spaces to dock them are an example of

Select one:
a. status quo pricing products.
b. complementary products.
c. substitute products.
d. competitive parity products.
e. purely competitive products.

Answer 1

Answer: complementary

Step-by-step explanation:

The yachts and spaces to dock are sold together. Without one, the other is useless therefore they are complementary.

Answer 2

Answer: OPTION D

Step-by-step explanation: In simple words, competitive parity products refers to those products which are necessary for an organisation to have in their operations so they can effective compete with other participants in the market.

In the given case, Bill was having problem regarding selling Yachts as he did not have any space, Thus, due to lack of one product he was having difficulty in operating the business of some other product.

Hence yachts and docks are an example of competitive parity products.