Ideally,before a new product or service is developed,a firm should have a precise __________,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.
A)formula
B)contract
C)modus operandi
D)protocol
E)methodology

Question

Quizplus · Accepted Answer

A protocol is a detailed plan or statement that outlines the target market, customer needs, and the product or service's features and benefits, ensuring alignment with consumer expectations before development begins.

Ideally,before a New Product or Service Is Developed,a Firm Should