During the Market Strategy Development Stage of the New Product

question 75

Multiple Choice

During the market strategy development stage of the new product development process, the marketing department prepares a marketing strategy statement. Which of the following elements would NOT normally be included in the statement?

• A) the planned sales, profit and market share goals for the first few years after launch
• B) a description of the target market
• C) an outline of the promotional activity required for product launch
• D) the planned value proposition
• E) the planned price, distribution and marketing budget for the first year

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Definitions:

Second-growth Forest

A forest that has regrown after a major disturbance, such as logging or fire, and is characterized by younger trees.

Tree Plantation

A forested area where trees are deliberately planted or sown for commercial, environmental, or agricultural purposes.

Farming Area

Land designated and utilized for agricultural purposes to cultivate crops and rear animals for food and other products.

Secondary Ecological Succession

The process through which established communities are replaced by new ones in an area where a disturbance has destroyed the previous ecosystem but left the soil intact, fostering new growth cycles.