Managers Ask If They Can Retain Existing Customers and Improve

question 37

Multiple Choice

Managers ask if they can retain existing customers and improve targeted coverage of existing and similar new customers,without innovation.Which of the following points about managing risk relates to this question?

• A) Get the most out of minimum innovation
• B) The point of innovation is growth
• C) Incremental product innovations can be particularly good at locking in existing customers
• D) Incremental innovations can generate more revenue gain or cost savings with less risk than radical ones

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Definitions:

Negative Marginal Utility

The decrease in satisfaction or usefulness obtained from consuming one more unit of a product, leading to decreased overall utility.

Candy Bars

Pre-packaged, convenient, sweet confections commonly made from chocolate and other ingredients like nuts, caramel, or nougat.

Consumer's Income

The total amount of income earned by consumers, determining their purchasing power and ability to afford goods and services.