The second part of the marketing strategy statement outlines the product's planned price, distribution, and ________ for the first year.

Related MCQs

• Designing an initial marketing strategy for a new product based on the _____ is called marketing strategy development.
• The marketing strategy statement in new product development consists of three parts: _____, _____, and _____.
• Once management has decided on a product concept and marketing strategy, it can next evaluate the _____ of the proposal.
• GrayBerry Gifts has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage, called ________ , to arrive at a realistic number to adopt.
• ____________ is the apparent monetary value of the bundle of functional, psychological and economic advantages consumers expect from a given market offering because of the products, services, personnel and image involved.
• Schmidt Steel Corporation lacks the confidence, capital, and capacity to launch its new steel product into full national or international distribution. Even though test market results look promising, what will be management's next step?
• _____ is the development of original products, product improvements, product modifications, and new brands through the firm’s own R&D efforts.
• In the _____ of new-product development, often products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.
• In the ________ stage of new-product development, products often undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.
• _____ is the stage of new-product development in which the product and marketing program are tested in more realistic market settings.