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Some Industrial Products Are Created to Meet the Needs of One

question 16

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Some industrial products are created to meet the needs of one or a small group of customers. Boeing, for example, serves a very defined group of customers with its 747 aircraft model. This is an example of:


Definitions:

New Products

Goods or services that have been recently developed and introduced to the market by a firm.

Brand Loyalty

The tendency of consumers to continuously purchase one brand’s products over its competitors, often due to satisfaction, trust, or preference.

Marketing Costs

The total expenses associated with promoting a product, service, or brand, including advertising, promotions, and sales personnel expenses.

Copyright Infringement

The unauthorized use of copyrighted material without permission, violating the creator's exclusive rights.

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