The Best Product Development Strategy for Most Firms Is to

question 143

Multiple Choice

The best product development strategy for most firms is to

• A) develop a small number of products that achieve market success and stick with them, because constantly changing old products (or introducing new ones) can confuse and frustrate customers.
• B) maintain one product line while adding regularly to that product line over time to sustain customer interest.
• C) constantly monitor consumer wants and needs and be willing to develop new products and adapt policies and services as those consumer needs begin to change.
• D) focus on the actual product or service and don't worry too much about factors such as image, price, and service.

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Definitions:

Material Goods

Physical items that are produced for purchase and consumption, providing economic value or utility.

Oppression

The systematic and unjust treatment of people, where power is exercised by one group over another in harmful ways.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.

Empowerment

The process of increasing the degree of autonomy and self-determination in people or communities to enable them to represent their interests in a responsible and self-determined way.