Customer Advisory Boards Are Small Groups of Actual Customers Who

question 76

True/False

Customer advisory boards are small groups of actual customers who serve as sounding boards for new product ideas and offer insights into their feelings and attitudes toward a firm's products, promotion, pricing, and other elements of marketing strategy.

---

Definitions:

Market Value

The current value of an asset or company based on the price that it can be sold for on the open market.

Historical Cost

The initial cost of an asset or investment when it was first purchased.

Patents

Legal documents granting exclusive rights to inventors for their innovations, preventing others from making, using, or selling the invention for a certain period of time.