What Aspect of Product Development Should Firms Try to Achieve

question 82

Multiple Choice

What aspect of product development should firms try to achieve when developing a successful brand?

• A)The product should be unique to the marketplace in order to be competitive.
• B)The product should provide value to the customers that will be using it.
• C)The product should be aligned with a customer service department to handle complaints.
• D)The product should be able to be manufactured as quickly as possible.
• E)The product should be promotable through advertising and personal selling.

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Definitions:

Firm's Purpose

The fundamental reason for a company's existence beyond just making profits, often reflecting its values, mission, and the positive impact it aims to create for stakeholders.

Personal Values

Fundamental beliefs and principles that an individual considers important and guides their behavior and decision-making.

Veil Of Ignorance

A method of determining the morality of political issues proposed by John Rawls, where decision-makers are ignorant of personal characteristics to ensure impartiality.