Procter & Gamble Introduced Its Duncan Hines Ready- To- Spread

question 86

Multiple Choice

Procter & Gamble introduced its Duncan Hines ready- to- spread frosting in a small geographic area.When General Foods became aware of the product,it rushed to market its own Betty Crocker ready- to- spread frosting,which eclipsed the Duncan Hines product introduction.General Foods was able to enter the stage of the new- product development process before Procter & Gamble could.

• A)product concept development
• B)idea generation
• C)commercialization
• D)concept testing
• E)business analysis

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Definitions:

Global Product Strategy

A framework for developing, marketing, and selling products in multiple countries with the aim of optimizing global performance.

Target Market

A specific group of consumers at whom a company aims its products and services, identified by certain demographic and psychographic criteria.

Target Market's Economy

The economic environment and conditions that influence the spending habits and purchasing power of a specific target market segment.

Viable Markets

Markets that have sufficient size, purchasing power, and accessibility to be profitable for selling a company's products or services.