Training for Channel Members to Sell New Products Successfully

question 25

Multiple Choice

Training for channel members to sell new products successfully:

• A) Should be conducted by the manufacturer if the channel members request it.
• B) Is necessary only for industrial products or complex consumer products.
• C) Should be planned as the new product is being developed.
• D) Is useful only during the introductory stage of the product life cycle.
• E) Is unnecessary except for highly technical products.

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Definitions:

Fast-Second Strategy

An approach by a dominant firm in which it allows other firms in its industry to bear the risk of innovation and then quickly becomes the second firm to offer any successful new product or adopt any improved production process.

Dominant Firm

A company with a large market share that has the power to influence the price and terms in its industry or market.

Innovations

The process of creating new methods, ideas, or products that bring about significant improvements or advancements.

Pure Monopoly

A market structure in which one firm sells a unique product, into which entry is blocked, in which the single firm has considerable control over product price, and in which nonprice competition may or may not be found.