Product Failure Is a Concern of All Marketers

question 107

Multiple Choice

Product failure is a concern of all marketers.Which of the following phases of new-product development is best able to measure this concern?

• A) Screening
• B) Concept testing
• C) Business analysis
• D) Product development
• E) Test marketing

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Definitions:

Industry Entry

The process of a new competitor or company beginning operations in a specific market or industry.

MR

Marginal Revenue, the additional income that is gained from selling one more unit of a product or service.

Profit-Maximizing

A strategy or approach aimed at achieving the highest possible profit from business operations.

Positive Profits

A financial gain that occurs when the revenues generated from business activities exceed the costs and expenses involved in operating the business.