A manufacturing firm that has developed a new product can use the NAICS codes to:
A)identify the type of firms that constitute its target market.
B)establish the potential banking partners.
C)foster long-term relations with buyers.
D)create mergers and joint ventures.
E)test the quality of its new product.

Question

Quizplus · Accepted Answer

NAICS codes are used to classify businesses based on the type of economic activity they conduct. By identifying the NAICS codes of firms that belong to the same industry or sector as the firm's new product, the firm can identify its target market and develop an effective marketing and sales strategy.

A Manufacturing Firm That Has Developed a New Product Can