To Avoid New-Product Failure, New-Product Expert Robert M

question 157

Multiple Choice

To avoid new-product failure, new-product expert Robert M. McMath suggests

• A) implementing a regional rather than a nationwide rollout of a new product.
• B) building a hierarchical organizational structure so that more people have a chance to spot product problems.
• C) focusing on customer benefits and learning from the past.
• D) increasing the marketing budget, since "success comes to those who can outspend the competition."
• E) releasing several different versions of a new product at the same time to see which one is most successful.

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Definitions:

Minimum Loss

The lowest possible amount of financial detriment that a business or individual can incur under given circumstances.

Rent-seeking

An economic concept describing the practice of gaining wealth without any contribution to productivity, typically by manipulating the social or political environment.

Market Protection

Measures implemented by a government to shield domestic industries from foreign competition, often through tariffs, quotas, or subsidies.

Government Grants

Funds provided by the government to individuals or organizations for specific purposes without a requirement for repayment.