One of the Eight Primary Reasons for Product Failure Is

question 177

Multiple Choice

One of the eight primary reasons for product failure is __________.

• A)the product is too innovative
• B)poor product quality
• C)government intervention
• D)too socially controversial
• E)poor execution of the marketing mix

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Definitions:

Cross-price Elasticity

Measures the responsiveness of the demand for one good to a change in the price of another good.

Good Y

Typically, a variable used in economic models to represent a generic good or service in the market.

Income Elasticity

A measure of how much the demand for a good or service changes in response to changes in consumer income.

Inferior Good

is a type of good whose demand decreases when the income of consumers increases, contrary to what is observed with normal goods.