Saved Help Save & Exit 2. Generic and Product Markets Generic and Product Markets Identifying generic and product markets is important to the development of an overall marketing strategy. These are the first steps toward identifying profitable target markets and developing the most effective marketing mix. By understanding the generic market, the marketing team can develop a broad understanding of the wants and needs of customers that it may fill, but also better understand the scope of competition. Generic markets are defined by broadly customer needs, types of customers and the geographic area, but do not include any product definition Product market definitions more narrowly identify those customer needs and include the type of product that potentially can fill those needs Read the statements Drag and drop each item into the correct spot within the chart User Needs Read the statements. Drag and drop each item into the correct spot within the chart. User Needs Generic Market Definition Customer Types Family Entertainment Fun Away Product-market Definition Geographic Area Eastern United States Families Product type Disney Amusement Park Reset