The Process by Which a Customer's Need Is Developed into a Product

question 7

Multiple Choice

The process by which a customer's need is developed into a product design is called _____.

• A) product differentiation
• B) product architecture
• C) product positioning
• D) product validation

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Definitions:

Slow Payments

Delays in the settlement of financial obligations, typically in the context of customers taking longer than agreed to pay their invoices.

Cash Receipts

The collection of cash during a period, including cash received from customers, interest, and other sources.

Change Fund

A set amount of money used for making change in cash transactions, typically reserved in a cash register.

Cash Register

A mechanical or electronic device used for registering and calculating transactions at a point of sale.