The Best Product Development Strategy for Most Firms Is To

question 294

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)constantly monitor consumer wants and needs and be willing to develop new products and adapt policies and services as those needs begin to change.
• C)focus on the actual product or service and don't worry too much about factors such as image,price,and service.
• D)maintain one product line while adding regularly to that product line over time to sustain customer interest.

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Definitions:

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The scientific investigation into the methods, motives, and effects of deception on human behavior.

Hindsight Bias

The tendency to view past events as being more predictable than they truly were after they have already occurred.

Replication Crisis

A methodological critique within the scientific community regarding the difficulty in reproducing or replicating the results of previous research studies.

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