Service Development in the Ansoff Model Is the Growth Opportunity

question 33

True/False

Service development in the Ansoff model is the growth opportunity for new services entering existing markets.

Comprehend the concept of diminishing marginal utility and its graphical representation as convex indifference curves.

Identify the relationship between diminishing marginal utility and total utility.

Understand the impact of complementary and substitute goods on consumer choice and marginal rate of substitution.

Grasp the significance of the substitution and income effects in response to changes in the price of goods.

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Definitions:

Affiliation Needs

A person's need to feel a sense of involvement and belonging within a social group.

Security Needs

A level in Maslow's hierarchy of needs, focusing on the desire for safety, stability, and protection from physical and emotional harm.

Affiliation Needs

The human desire to form and maintain interpersonal relationships, connections, and a sense of belonging.

Safety Needs

Basic human needs for security and protection from harm, as identified in Maslow's hierarchy of needs, following physiological needs.