How a Product or Service Will Be Conceived or Designed

question 74

Multiple Choice

How a product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer are all elements of

• A)a marketing plan.
• B)a marketing exchange.
• C)supply chain logistics.
• D)production management.
• E)delivery of the value proposition.

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Definitions:

Radical Innovations

Developments or changes that fundamentally transform existing practices, products, or technologies, creating new markets or value networks.

Exploration

The process of seeking out new knowledge, strategies, or practices, often to foster innovation or adapt to changes.

Management Philosophy

Represents the beliefs and principles that guide a manager's decisions and actions concerning leadership, employee management, and organizational practices.

Orientation Practices

Procedures and activities designed to introduce and acclimatize new members or employees to an organization or situation.