Ideally, Before a New Product or Service Is Developed, a Firm

question 173

Multiple Choice

Ideally, before a new product or service is developed, a firm should have a precise ________, which is a statement defining the target market, specifying customers' needs, and defining what the product or service will be and do to satisfy consumers.

• A) formula
• B) contract
• C) modus operandi
• D) protocol
• E) methodology

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Definitions:

Connection Speed

Connection Speed refers to the rate at which data is transmitted from the internet to your computer or vice versa, typically measured in Mbps (Megabits per second).

Google Fi

Google Fi is a telecommunications service by Google that provides telephone calls, SMS, and mobile broadband using cellular networks and Wi-Fi.

4G System

The fourth generation of mobile telecommunications technology, offering faster speeds and more reliable internet access than its predecessor, 3G.

All-IP-based

All-IP-based refers to networks, systems, or services that operate exclusively over Internet Protocol, enabling unified and flexible communication and data transfer.