The Creation of a Successful New Product Depends on a Company's

question 40

Multiple Choice

The creation of a successful new product depends on a company's understanding of its ________ and its ability to deliver ________ to customers.

• A)competitors,distributors and employees;new styles
• B)customers,brands and products;product images
• C)customers,competitors and markets;superior value
• D)product,marketing mix and marketing strategy;functional features
• E)product life-cycle,legal responsibilities and social responsibilities;innovations

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Definitions:

Invention

The creation of a product or introduction of a process for the first time.

Appeal to Consumers

The process of attracting potential customers or clients by highlighting the benefits or attractiveness of a product or service.

Cognitive Strategies

Techniques or methods employed to facilitate learning, problem-solving, and memory, often by organizing information or employing mnemonic devices.

Pattern Recognition

The ability to detect trends, sequences, or similarities in data, often used in decision-making and prediction analyses.