Market uncertainty refers to the extent to which managers understand how a new product or service will be received in the market.

Question

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Market uncertainty refers to the lack of knowledge or understanding among managers regarding how their product/service will be received in the market. It is a condition where the level of risk involved in introducing a new product/service is not clear or uncertain. Therefore, it can have an impact on the decision-making process of managers and their ability to develop a successful marketing strategy.

Market Uncertainty Refers to the Extent to Which Managers Understand