Speed Is the Major Contributor to Cost

question 221

True/False

Speed is the major contributor to cost.

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Definitions:

Simulated Test Markets

A marketing technique where consumer reaction to a product is tested in a simulated environment prior to its actual launch.

Standard Test Markets

Controlled market areas where new products or marketing campaigns are tested before a nationwide or international launch.

Cannibalization

A business phenomenon where a company’s new product eats into the sales of its existing products.

Business Analysis

The practice of identifying business needs and determining solutions to business problems through analysis and modification of processes.