Early in the Commercialization Phase, Marketers Must Make Decisions About

question 143

Multiple Choice

Early in the commercialization phase, marketers must make decisions about

• A) warranties, repairs, and replacement parts.
• B) product features and break-even points.
• C) functionality, safety, and convenience.
• D) the proposed marketing mix variables.
• E) which ideas to further pursue.

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Definitions:

Implicit Costs

The opportunity costs that are not directly paid for or incurred in transactions but represent real costs to a business.

Implicit Costs

refer to the opportunity costs that occur when a company uses internal resources that could have been used for another purpose but do not directly affect cash flow.

Entrepreneurial Talent

The specific skills, creativity, and innovation that individuals bring to starting and managing new ventures or businesses.

Forgone Interest

The potential interest earnings lost by choosing to invest capital in one option over an alternative that offers a higher return.