Test marketing occurs when a new product is introduced in its final form to a geographically limited market to see how well the product sells and to get reactions from potential users.
Answer the following statement true (T) or false (F)
True
In the test-marketing stage, a product that makes it past the product development stage is ready to be tested more fully with potential customers.
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Warranties are formal statements of expected product performance by the manufacturer
Indicate whether the statement is true or false
A price experiment
A. is useful for obtaining data for a cost-oriented pricing strategy. B. is a quick and efficient method to decide on a price for a product. C. cannot be performed if the retailer uses POS terminals. D. is a less accurate method of determining buyer response to price changes than a consumer panel. E. is a method of determining the most profitable price for a product.
Which type of variable can represent the largest number?
a) Byte b) Integer c) Long Integer d) Single e) Double
Which of the four levels of the cost hierarchy would be used by a dress manufacturer using an activity-based management to design a pattern for a new dress style?
A) Unit-level activity B) Batch-level activity C) Product-level activity D) Facility-level activity