In the Concept Testing Stage of New-Product Development,a Product Concept

question 58

Multiple Choice

In the concept testing stage of new-product development,a product concept in ________ form is presented to groups of target consumers.

• A)physical or symbolic
• B)prototype
• C)final
• D)market-tested
• E)commercial

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Definitions:

Market Shares

Market Shares represent the percentage of an industry's total sales that is earned by a particular company over a specified time frame.

Inference

The process of drawing conclusions from facts or evidence.

Vertical Restraints

Business practices and contractual agreements between companies at different levels of the supply chain that restrict how a product or service can be sold.

Rule Of Reason

A legal doctrine used in antitrust law to determine if a business practice is permissible based on its procompetitive versus anticompetitive effects.