An Important Way of Defining New Products Is in Terms

question 179

Multiple Choice

An important way of defining new products is in terms of their effects on consumption. This approach classifies new products according to

• A) the price.
• B) the extent of media promotion.
• C) the degree of potential product cannibalization.
• D) the presence of feature bloat.
• E) the degree of learning required by the consumer.

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Definitions:

Accord And Satisfaction

An agreement for payment (or other performance) between two parties, one of whom has a right of action against the other. After the payment has been accepted or other performance has been made, the “accord and satisfaction” is complete, and the obligation is discharged.

Legal Claim

A formal assertion by a party that they are entitled to some legal right or remedy.

Enforceable

Capable of being imposed or upheld by legal process or authority.

Release

A contract in which one party forfeits the right to pursue a legal claim against the other party.