A New-Product or Service Protocol Is

question 127

Multiple Choice

A new-product or service protocol is

• A) the standardized procedures a firm follows for the inception, design, manufacturing, promotion, and distribution of a new product.
• B) a formalized statement of intent regarding what will be sold, to whom it will be sold, and by whom it will be sold.
• C) maintaining compliance with all licensing, manufacturing, and distribution standards established by the U.S. Federal Trade Commission (FTC).
• D) a statement that identifies a well-defined target market, specific customers' needs, wants, and preferences, and what the product or service will be and do to satisfy consumers.
• E) the raw unwritten ideas to produce a single commercially successful new product.

Utilize precise language for clear and effective communication.

Correctly use idioms to enrich writing.

Appropriately use technical words and acronyms to enhance professional communication.

Understand the concept of ethnocentrism and its implications on cross-cultural communication.

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Definitions:

Product's Characteristic

A defining attribute or quality of a product that may influence the consumer's purchase decision.

Product Modification

The process of altering an existing product's features, quality, or performance to increase its value, appeal, or utility to consumers.

Sleep Wellness Provider

A service or entity that offers solutions and strategies for improving quality of sleep, often incorporating both products and advice.

Repositioning

The strategy of changing the marketing mix or perception of a product or brand among consumers to target a new market or segment.