Before a New Product or Service Is Developed, a Firm

question 234

Multiple Choice

Before a new product or service is developed, a firm should have a precise protocol, a statement that includes which of the following?

• A) a clear plan for product distribution
• B) an analysis of potential competitors' products
• C) a precise budget of how much can be spent for the marketing program
• D) a well-defined target market
• E) clear financial goals and expectations

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Definitions:

Request For Proposals

A document issued by an organization inviting suppliers to submit a proposal on a specific commodity or service.

RFP

Request for Proposal, a formal document issued by an organization inviting suppliers to submit proposals for the provision of goods, services, or works.

Pay-For-Success Contracts

A funding model in which payment is contingent upon achieving agreed-upon outcomes, often used to encourage innovation and effectiveness in social services.

Professional Grant Managers

Individuals specialized in managing and overseeing the grant process, from application to compliance and reporting.