When a new product arrives in the market with higher quality, higher value and new features better than its competitors. Such products are known as

Related MCQs

• When a firm sets a very low price for one or more of its products with a view to drive its competitors out of market is known as ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.
• When a firm sets a very low price for one or more of its products with the intention of driving its competitors out of business.
• A firm that bases its price on how it thinks the competitors will price, rather than on its own costs or demand, in order to win a contract is most likely using
• Whenever a new product eliminates another product because of its improvements, such as CDs to Cassettes, this phenomenon is referred as
• Serving a small market not served by competitors is known as………….
• Marketing decision makers in a firm must constantly monitor competitors' activities-their products, prices, distribution, and promotional efforts-because
• fixing and maintaining the standards for quality , quantity, size and other features of the product refers to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.
• The process of adding a higher priced prestigious, product to the existing line of lower priced products is known as ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.
• In which stage of new product development process, the product and marketing programs are tested in realistic market settings?
• Sigma-Sunco has decided to introduce its new sunscreen eye drops in a limited market consisting of only two cities and closely monitor the reactions of potential customers to the product and marketing program. This is called