Which of the following steps involved in new product introduction is regarded as the most crucial because it requires huge financial resources and extensive co-ordination of all aspects of the marketing mix?
A)Idea generation
B)Concept testing
C)Product launch
D)Product development
E)Evaluation of results

Question

Quizplus · Accepted Answer

Product launch is regarded as the most crucial step in new product introduction because it requires huge financial resources and extensive co-ordination of all aspects of the marketing mix. It involves activities like advertising, sales promotion, public relations, and sales force training, which require significant financial resources and effort. It is also important to ensure that all aspects of the marketing mix are well integrated to create a compelling value proposition that resonates with the target customers. A successful product launch can have a significant impact on the success of the new product, whereas a poorly executed launch can result in a significant waste of resources and lost opportunities.

Which of the Following Steps Involved in New Product Introduction