Having Completed the First Stages of Product Development of Its

question 73

Multiple Choice

Having completed the first stages of product development of its new low-calorie frozen yogurt breakfast bars, the YaYa Yogurt Company took its product directly to consumers. Marketers partnered with a large theme park in Orlando, FL, to perform ________________. The YaYa marketing department wanted to know if consumers found this product to be a quick way to eat breakfast on the road. Subsequently, they also wanted to determine what customers would be willing to pay for the breakfast bar.

• A) commercialization
• B) concept testing
• C) prototyping
• D) product screening

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Definitions:

E-books

Digital versions of books that can be read on electronic devices such as e-readers, tablets, or computers.

Complements

Goods that are consumed together because the use of one enhances the use of the other.

Indifference Curves

Graphical representations in economics showing different combinations of goods among which a consumer is indifferent.

Substitution Effect

The change in the consumption patterns of goods or services due to a change in their relative prices, holding the consumer's income constant.