The First Step Taken by a Manager When Selecting an Outside

question 21

Multiple Choice

The first step taken by a manager when selecting an outside research supplier should be

• A)contacting other managers who use outside suppliers for their recommendations.
• B)consulting the American Marketing Association's Guidebook of Research Suppliers.
• C)deciding if the proposed research is really necessary.
• D)soliciting research proposals from at least three suppliers.
• E)soliciting research requests from at least three suppliers.

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Definitions:

Product Design

The process of creating a new product to be sold by a business to its customers, focusing on its features, appearance, and usability.

Time-To-Market

The period between the initial concept of a product and its ultimate availability for sale to consumers, indicating the pace at which a company can launch new offerings.

Suppliers Early

The practice of engaging with suppliers at the initial stages of a project or product development to ensure timely procurement and innovation collaboration.

Inventory

The quantity of goods that a company has in stock, including raw materials, work-in-progress, and finished goods.