Final answer:
The statement is true; the determining dimension is critical for marketers to understand consumer needs and to offer core benefits that satisfy those needs. Companies that concentrate on their core competency are generally more successful. Intangible aspects can also influence consumer perceptions and differentiate products.
Step-by-step explanation:
True or false: The determining dimension helps marketers to understand the "core benefits" required by consumers in a product-market. The statement is true. The concept of a determining dimension refers to the key attribute or benefit that consumers look for in a product or service within a specific market. Understanding this dimension enables marketers to tailor their products more effectively to meet consumer needs and expectations, thereby positioning their offering as the best choice to satisfy those needs.
In the context of business strategy, companies often concentrate on a narrow product range to build a competitive edge, sometimes referred to as their core competency. This strategic focus allows firms to leverage their strengths and to create products that offer the core benefits the market demands, often leading to greater success than if they were to diversify into a wide range of products. Intangible aspects such as guarantees, reputation, and advertising can also shape consumer perceptions and product differentiation, effectively communicating the core benefits to the target audience.