Eric Is a Sales Rep for an Established Building Materials

question 115

Multiple Choice

Eric is a sales rep for an established building materials manufacturer. Business is good, but he is concerned that the company has spent little on new product development and has not created a new product in over five years. Without new products, Eric can only market to his current customers or

• A) diversify.
• B) intensify his prototyping.
• C) expand his early adopter market segment.
• D) market the same products to similar customers.
• E) focus on concept testing.

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Definitions:

P Value

A statistical measure that helps scientists determine the significance of their research results, reflecting the likelihood that the observed data could occur by chance.

Mean

A statistical measure that represents the arithmetic average of a set of numbers.

Statistically Significant

A term used to describe a result that is unlikely to have occurred by chance alone, according to a predetermined threshold of probability.

Variation

The occurrence of differences among individuals within a population, due to genetic differences or environmental factors.