Before a new product or service is developed,a firm should have a precise protocol,a statement that identifies which of the following?
A)a clear plan for product distribution
B)an analysis of potential competitors' products
C)a precise budget of how much can be spent for the marketing program
D)specific customers' needs,wants,and preferences
E)clear financial goals and expectations

Question

Quizplus · Accepted Answer

Ideally,before a new product or service is developed,a firm should have a precise protocol,which is a statement that identifies: (1)a well-defined target market;(2)specific customers' needs,wants,and preferences;and (3)what the product or service will be and do to satisfy consumers.

Before a New Product or Service Is Developed,a Firm Should