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In Addition to Understanding the Wants and Needs of the Target

question 47

Essay

In addition to understanding the wants and needs of the target audience, what must marketers understand when introducing a new product into an established market segment?


Definitions:

Trade Secrets

Legal and business concept protecting confidential business information which provides a competitive edge.

Interchangeable Parts

Components that are made to such precise standards that they can fit into any assembly of the same type, improving efficiency and repair.

Manufacturing

The process of converting raw materials, components, or parts into finished goods that meet a customer's expectations or specifications.

Advanced Metals

Metals that have been engineered or processed to have superior properties, such as strength, durability, or conductivity, for use in advanced technologies.

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