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What Is the ERA, and Why Has It Not Passed

question 53

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What is the ERA, and why has it not passed? What arguments have been made for and against it?


Definitions:

Product Development

is the complete process of bringing a new product or service to market, from idea generation and design to prototype testing and eventual launch.

Market Development

The strategy of entering new markets or segments to expand the customer base for existing products or services.

Diversification

A strategy of expanding into new markets, products, or services to reduce risk and increase opportunities for growth.

Market Penetration

A quantification of the volume of sales or adoption rate of a product or service as compared to the entire theoretical customer base for that item.

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