Coming up with a product design that will have the highest utility for a sufficient number of people to ensure sufficient sales to justify making the product is known as the ___________ problem in marketing literature.
A)capital budgeting
B)share of choice
C)fixed-cost
D)traveling-salesman

Question

Quizplus · Accepted Answer

The problem described matches the concept of "share of choice," which refers to the challenge of designing a product that will be the preferred choice for a significant number of consumers over other available options. This requires careful market research, product positioning, and differentiation strategies to create a unique value proposition that attracts and retains customers. Capital budgeting relates to the financial evaluation of investment projects, fixed costs refer to expenses that do not vary with production levels, and the traveling-salesman problem involves finding the shortest route for a salesperson to visit multiple locations.

Coming Up with a Product Design That Will Have the Highest