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LOMA 291 Module 3 Lesson 2 EXAM 2024 QUESTIONS & ANSWERS 100% CORRECT!! $14.99   Add to cart

Exam (elaborations)

LOMA 291 Module 3 Lesson 2 EXAM 2024 QUESTIONS & ANSWERS 100% CORRECT!!

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  • LOMA 291

idea screening - ANSWERAn activity in which a team quickly and inexpensively evaluates new product ideas to separate workable ideas from those that have little or no potential. comprehensive business analysis - ANSWERAn evaluation of all the factors that are likely to affect the design, producti...

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  • August 27, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • LOMA 291
  • LOMA 291
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LOMA 291 Module 3 Lesson 2 EXAM 2024
QUESTIONS & ANSWERS 100% CORRECT!!

idea screening - ANSWERAn activity in which a team quickly and inexpensively evaluates new
product ideas to separate workable ideas from those that have little or no potential.



comprehensive business analysis - ANSWERAn evaluation of all the factors that are likely to affect the
design, production, pricing, marketing, and sales potential of a new product.



feasability study - ANSWERIn a comprehensive business analysis, research designed to determine the
operational and technical viability of producing and selling a product.



marketing projection - ANSWERIn a comprehensive business analysis, preliminary sales and financial
forecasts that include estimates of potential unit sales, revenues, costs, and profits for a proposed
product.

market analysis - ANSWERAn evaluation of all of the environmental factors that might affect product
sales, including target market characteristics, economic conditions, legal or regulatory requirements,
and tax considerations.

product design objectives - ANSWERIn a comprehensive business analysis, specifications of an
insurance product's basic characteristics, features, benefits, issue limits, age limits, commission and
premium structure, and operational and administrative requirements.



product proposal - ANSWERA document used to present a product idea to an internal team that
decides whether to allocate company resources toward developing the product idea.

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