Research on New Service Success Suggests That

question 71

Multiple Choice

Research on new service success suggests that:

• A)the determinants of success for new services closely resemble those found for successful new products.
• B)a well-managed service development process is crucial.
• C)successful projects provide clear customer benefits.
• D)all of the answer choices.

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Definitions:

Market Economy

An economic system in which supply and demand determine the production and allocation of resources through decentralized decision-making.

High-Cost Producers

Businesses or entities that incur higher expenses in the production of goods or services, often leading to higher selling prices to maintain profitability.

Low-Cost Producers

Companies or entities that can produce goods or services at a lower expense than competitors, often due to efficiencies or advantages.

Market System

An economic system in which decisions regarding investment, production, and distribution are guided by the price signals created through the forces of supply and demand.