Commercial Applications
The usual source for new products is ……………
- Marketing research
- R&D
- Accidental discoveries
- A variety of sources including customers, competitors
Answer
A variety of sources including customers, competitors
Reason — New products usually come from a variety of sources including customers' needs and feedback, competitors' products, marketing research, R&D departments and even accidental discoveries. Hence, the usual source for new products is not limited to one source but a combination of various sources.
Related Questions
This marketing component is most likely to be standardized ……………
- Brand
- Price
- Advertising
- Distribution
Which stage of the product life cycle is marked by falling costs and rising revenues?
- Introduction stage
- Growth stage
- Maturity stage
- Saturation stage
A company launches a new product in the market with the following conditions:
(i) The product is priced significantly higher than competitors.
(ii) The target market is affluent consumers who value exclusivity.
(iii) The product is heavily promoted as a luxury item.
Which pricing strategy is the company likely using?
- Penetration Pricing
- Cost-Plus Pricing
- Skimming Pricing
- Parity Pricing
Which stage of the product life cycle is most likely represented by the products in "D category" in the image below?
- Introduction
- Growth
- Maturity
- Decline