Which of the following is very important to ascertain during your venture concept reality check process?
a. Customer satisfaction with existing solutions/alternatives
b. Whether customers perceive your solution as distinctive
c. Whether customers would be willing to pay more for your solution
d. All the above
d. All the above
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Which statement about products in the sales decline stage of the product life cycle is true?
A. Customers will always abandon the declining product immediately if an alternative is available. B. Brand managers should phase out this product as quickly as possible. C. Phasing out a product at this time is fairly easy, and this strategy will cut future losses. D. A declining product may still be profitable for some time and it might be more appropriate to phase out this product gradually. E. None of these statements is true.
In a novation, the delegator is discharged and the third party becomes directly bound upon his promise to the obligee
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After a power of sale is exercised, there is no right of redemption
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