H2 O'Yeah Has Designed a Water Purification Device That Is

question 72

Multiple Choice

H2 O'Yeah has designed a water purification device that is drastically different and far superior to any product currently on the market. Although consumer response was positive to the idea of the new product, management wants to find out more before committing to full-scale production. The next step H2 O'Yeah's marketing department is likely to take is to:

• A) locate a low-cost production site.
• B) seek a joint venture with a larger competitor.
• C) test market the product among potential users.
• D) develop an advertising campaign to persuade consumers of the value of the new water purifier system.

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Definitions:

Narrow Product Lines

Refers to a business strategy focusing on a limited selection of products or services, allowing for specialization and potentially higher proficiency or quality.

Break-Even Point

The point in business where total revenues equal total costs, indicating that the business is not making a profit nor a loss.

Critical Path

A project management tool that identifies the sequence of crucial and interdependent steps that comprise a project's longest duration.

PERT Network

Project Evaluation and Review Technique; a project management tool used to schedule, organize, and coordinate tasks within a project.