When Prototyping a Service, a ____________ Prototype Might Be Offering

question 14

Multiple Choice

When prototyping a service, a ____________ prototype might be offering a simulation of how a service is performed.

• A) Wire frame
• B) Looks-like
• C) Works-like
• D) 3D
• E) b and c

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Definitions:

Dominant

In a strategic or competitive context, dominant refers to a position of advantage where an entity (such as a firm, product, or strategy) significantly outperforms or influences others.

Marginal Revenue

Marginal revenue is the additional income generated from selling one more unit of a good or service.

Marginal Cost

The cost of producing one additional unit of a good or service, reflecting how total cost changes with output variation.

Monopoly

is a market structure characterized by a single seller dominating the entire market by selling a unique product or service.