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) __________.
A)what the product or service will be and do to satisfy consumers
B)a clear plan for distribution
C)clear financial goals and expectations
D)an analysis of potential competitors' products or services
E)a precise budget of how much can be spent for the marketing program

Question

Quizplus · Accepted Answer

The third component of the protocol should identify what the product or service will be and do to satisfy consumers.

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