Coming Up with a Product Design That Will Have the Highest

question 35

Multiple Choice

Coming up with a product design that will have the highest utility for a sufficient number of people to ensure sufficient sales to justify making the product is known as the ___________ problem in marketing literature.

• A)capital budgeting
• B)share of choice
• C)fixed-cost
• D)traveling-salesman

---

Definitions:

Varying Price

A pricing strategy where the price of a product or service changes over time or depending on the situation, often in response to market demand.

Market Segments

Divisions within a broader market, categorized by distinct characteristics such as demographics, needs, or preferences.

Product Attributes

Characteristics or features that define a product, including quality, size, design, and functionality.

Price Sensitive

The degree to which the demand for a product changes in response to changes in its price.