What Issues Should Be Addressed by Managers During the Strategy

question 42

Essay

What issues should be addressed by managers during the strategy formulation stage of the AFI strategy framework?

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Definitions:

New-product Development

The complete process of bringing a new product to market, encompassing conception, design, manufacturing, and marketing.

Consideration Stage

Part of the customer journey where potential buyers evaluate a product or service before making a purchase decision.

Consumer Adoption

The process by which customers accept and purchase new products or innovations.

Competitive Advantage

An attribute that allows an organization to outperform its competitors, such as superior products, cost structures, or customer service.