If a product is successful in its home country, it is not necessary to test market in new geographic markets
Indicate whether the statement is true or false
FALSE
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Today, companies are increasingly concerned about customer defection. There are three main steps a company can take to reduce the defection rate. Identify those three steps
What will be an ideal response?
Which of the following is true regarding services?
A) Services are typically produced, stored, and then consumed. B) Services are generally low in experience and credence qualities. C) Service providers develop similar marketing programs for personal services and business services. D) There is less risk associated with the purchase of services than with the purchase of goods. E) Provider-client interaction is a special feature of services marketing.
The first discussion point in a sales presentation should address the features, advantages, and benefits that the prospect desires.
Answer the following statement true (T) or false (F)
The design engineer's preliminary estimate of a product's design, production, and distribution costs is $1,163 per unit. Market research shows potential customers are willing to pay up to $1,512 for the product. If the desired profit is 30 percent of target cost, should the company make the product?
A) No, the market price only allows for a 23% profit at this cost. B) Yes, with only slight modifications to cost. C) Yes, the desired costs and profit are right on target. D) Yes, the market price will allow for a profit that exceeds the target.