A Strategy for Managing a Product's Life Cycle That Attempts

question 143

Multiple Choice

A strategy for managing a product's life cycle that attempts to find new customers, increase a product's use among existing customers, or create new use situations is referred to as

• A) market modification.
• B) product modification.
• C) product repositioning.
• D) product extension.
• E) diversification.

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Definitions:

Non Est Factum

A legal defense claiming that a contract is invalid because the signer was unaware of its nature due to an honest mistake.

Functionally Illiterate

The condition of having limited reading and writing skills that are insufficient for everyday needs.

Mistake of Fact

A misunderstanding or incorrect belief regarding a fact that is material to a contract at the time of its formation, potentially rendering the contract voidable.

Non Est Factum

A legal defense in contract law where a person asserts they were mistaken about the fundamental nature of a contract they signed, rendering it void.