Answer the following statement(s) true (T) or false (F)
1. A dry cleaning business is classified as profit and low contact service.
2. Cheerios, Wheaties, and Total cereals (all offered by the same company) are considered a product mix.
3. Marketers refer to product mixes as narrow or wide, depending upon how many product lines are carried.
4. The first step in the new-product development process is the business analysis step, in which the firm estimates the market potential of the new product.
5. The majority of new products entering the marketplace are successful.
1. TRUE
2. FALSE
3. TRUE
4. FALSE
5. FALSE
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