Question

A _____ market represents those channels of distribution that are not formally defined and authorized by the manufacturer for sale of the product.

A) Gray.
B) Primary.
C) Closed.
D) Vertical.

Answer 1

A gray market represents those channels of distribution that are not formally defined and authorized by the manufacturer for sale of the product.

Step-by-step explanation:

A gray market represents those channels of distribution that are not formally defined and authorized by the manufacturer for sale of the product. In other words, it refers to the sale of goods through unofficial or unauthorized channels. Gray market products are often sold at lower prices compared to those sold through official channels.