What Is a New Product Committee

question 103

Multiple Choice

What is a new product committee?

• A) a task force of experts assigned to generate new product ideas
• B) a group of experts permanently assigned to generate, evaluate, and implement new product projects
• C) the employees, suppliers, and customers that are a part of the relationship marketing process
• D) the most common arrangement for activities related to developing a new product

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Definitions:

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Equilibrium

In economics, a state where market supply and demand balance each other, and as a result, prices become stable.

Coconuts

Tropical fruits or the hard-shelled seeds of the coconut palm, often used metaphorically in economics and game theory to represent tradable resources.

Civic Authorities

Government officials or bodies responsible for governing a city or town, and managing local services and regulations.