The majority of product ideas come from
*Marketing consultants
*small sized organizations and entrepreneurs
*large organizations
*medium-sized organizationsSmall sized organizations and entrepreneurs
By making Christmas decorations available the day after Thanksgiving, Holly's Holiday Shop is
...
When a Domino's delivery person brings a pepperoni pizza to your dorm room, this is an
example of _____.
Time utility
place utility
form utility
ownership utility✅✅Place Utility
When a soap manufacturer adds liquid soap to its product line, the manufacturer is providing
which type of utility?
form
time
ownership
place✅✅Form
To analyze the market to see whether you should go forward with the development of a new
product, you should answer all of the following questions except:
Is this product something I want to sell?
who would my customers be?
How will customers benefit from my product?
why will customers buy the product from me?✅✅Is this product something I want to sell?
, Connie's is a regional chain of family-style restaurants in the Midwest. Over the years, Connie
Sedgewick has been an innovative, hard-working businessperson who's expanded her business to
15 locations in four states. A "calling card" of her restaurants is the superior customer service
provided by the entire staff and the ability to add and change menu items for local customer
preferences. Connie has a good working relationship with suppliers, employees, and customers
and a good reputation in the communities where she does business.✅✅
In such activities as greeting customers, seating them, taking their orders, cooking their food, and
serving them, Connie's staff is providing _____.
trying to spend more time with the customer
customer relations
a combination service/product
services✅✅Services
Your product idea is to offer cruises for college students. Your market niche is:
college students who take cruises.
people who travel.
people who take cruises.
the recreational activity industry.✅✅College Students who take cruises
After identifying a group of potential customers, your next step is to _____.
find funding for your product
collate the industry data that you've collected
find out what they think of your product idea
manufacture a prototype✅✅find out what they think of your product idea
The approach used to determine when your total sales revenues exactly equal your expenses is
called _____.
the equilibrium point
flatline analysis
odd-even analysis
breakeven analysis✅✅Breakeven analysis
During the product development process of _____, a product development team is involved in
design work to ensure that the product will be safe.
getting feedback to refine product concept
designing with manufacturing in mind
building and testing prototypes
making sure that the product performs and appeals to customers✅✅making sure that the
product performs and appeals to customers
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