Introducing Newly Developed Products or Services to a Market Segment

question 119

Multiple Choice

Introducing newly developed products or services to a market segment the company is not currently serving is called

• A)product development.
• B)market development.
• C)market penetration.
• D)diversification.
• E)product proliferation.

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Definitions:

Markdowns

Reductions in the retail prices of goods, typically to stimulate sales or clear inventory.

Markup

The sum included in the goods' purchase price to account for operational costs and earnings.

Return on Investment

A measure used to evaluate the efficiency or profitability of an investment, calculated as the net profit divided by the cost of the investment.

Selling Price

The price at which a product or service is sold to the consumer.