Carmen is ready to launch her company's new product, a line of chocolate for diabetics, based on her instincts and knowledge from 30 years of marketing. Her staff is encouraging her to delay the launch until test marketing can be done. What are the advantages and disadvantages of each approach?
What will be an ideal response?
Carmen probably has considerable knowledge and good instincts about what new products will work or not work. By going straight into product launch she can save money, time, and not alert her competitors, giving her more of a first mover advantage. Test marketing, however, provides an opportunity to learn more about consumer behavior and the potential to assess market demand, in addition to the chance to test the planned marketing mix.
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List and describe the three types of budgets that are included in the master budget
What will be an ideal response
Which of the following factors is relevant to a determination of an "appropriate bargaining unit?"
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Indicate whether the statement is true or false.