A Firm Is Thinking About Adding a Product to Its

question 60

Multiple Choice

A firm is thinking about adding a product to its product line. What is the most likely outcome if the firm goes through with this plan?

• A)It will be difficult to manufacture the product.
• B)The company will have to work hard to build up the brand.
• C)The new product is certain to be accepted by the market.
• D)The new product can be advertised alongside existing products.
• E)It will take a long time for customers to feel loyal to the product.

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Definitions:

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow that human needs are arranged in a hierarchy from most basic physiological needs to higher-level needs for self-actualization.

Overjustification Effect

A psychological effect where introducing external rewards for an activity previously enjoyed for its own sake reduces intrinsic motivation to perform that activity.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow that prioritizes human needs from the most basic (physiological) to higher-level needs (self-actualization).

Social Diffusion

The process by which attitudes, innovations, or behaviors spread within a population or social network.