Developing a Product Involves Defining the Benefits That It Will

question 79

Short Answer

Developing a product involves defining the benefits that it will offer.These benefits are communicated and delivered by ________ such as quality, features, and style and design.
private brands
product attributes
consumer products
product mixes
marketing tools

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Definitions:

Market Demand

The total quantity of a product or service that all consumers in a market are willing and able to purchase at various prices.

Increases

This term refers to a situation where a quantity or quality of something goes up or becomes more.

Constant-Cost Industry

An industry where the costs of production do not change as the overall level of production increases or decreases.

Long-Run Supply

The total amount of a good or service that is available in the market over a long term, taking into account adjustments in production and entry or exit of firms.