Ideally,before a New Product or Service Is Developed,a Firm Should

question 197

Multiple Choice

Ideally,before a new product or service is developed,a firm should have a precise __________,which is a statement that identifies: (1) a well-defined target market; (2) specific customers' needs,wants,and preferences;and (3) what the product or service will be and do to satisfy consumers.

• A)formula
• B)contract
• C)modus operandi
• D)protocol
• E)methodology

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