The Concept That a Product Should Not Only Fit the Market

question 23

Multiple Choice

The concept that a product should not only fit the market needs but have a technical advantage as well is known as the:

• A)Market pull approach to new-product introduction
• B)Technology push approach to new-product introduction
• C)Interfunctional view to new-product introduction
• D)Dual approach to new-product introduction
• E)Innovative approach to new-product introduction

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Definitions:

Price Elasticity

A gauge of the degree to which demand for a merchandise reacts to alterations in its price, showing how susceptible the amount demanded is to changes in price.

Specific Tax

Tax of a certain amount of money per unit sold.

Consumers

Individuals or groups who are the final users of products and services generated within an economy.

Specific Tax

A fixed amount of tax imposed on a product, service, or transaction, regardless of its price.