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11. Which of the following is the correct sequence of steps in the development of new products:
A. Idea generation, product screening, concept testing, test marketing, commercialization
B. Concept testing, idea generation, product screening, test marketing, commercialization
C. Commercialization, test marketing, idea generation, product screening, concept testing
D. Product screening, idea generation, concept testing, commercialization, test marketing
Which of the following marketing functions enables business to have their products in the right place at the right time?
Channel management.
This function gets products from producers to customers so they are available when and where customers want to buy. Efficient channel management allows businesses to have their products in the right place at the right time. If this doesn't happen, products cannot be sold.
Why should existing products be monitored?
Why should existing products be monitored? To make changes in product or packaging to extend a product's life cycle. Which step in the new-product development process involves seeking feedback from customers to know what response they would give to a proposed product?
Which of the following is the most efficient cost effective way for a business to promote goods and services to customers who want to receive product information?
Which of the following is the most efficient, cost-effective way for a business to promote goods and services to customers who want to receive product information: Opt-in e-mail. Caroline is unable to travel to a client's office but needs to demonstrate product features and be able to answer questions as they arise.
What is the function of product and service management?
Product service management (sometimes product/service management) is the process of shaping a company's offerings in response to demand stemming from market fluctuations. A product service manager (PSM) anticipates customer needs and then guides product development to meet them.