When New Products or Services Are Being Planned, Process Selection

question 24

Multiple Choice

When new products or services are being planned, process selection occurs as a matter of course. Process selection also comes into play as a result of:
(I) technological changes.
(II) competitive pressures.
(III) fundamental changes in demand patterns.

• A)I only
• B)II only
• C)III only
• D)I and II but not III
• E)I, II, and III

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Definitions:

Marketers

Professionals or organizations that focus on promoting and selling products or services, often through research, advertising, and sales strategies.

Encoding

The process of converting information into a form that can be stored in memory, an integral step in the learning and memory process.

Information-Processing

The means by which information is stored, retrieved, and utilized by the brain or in computational systems.

Retrieval Ability

The capacity to access and recover information from memory, significant in various contexts including learning, decision-making, and problem-solving.