Answer:
Explanation:
History has shown that Competition is great for the consumers as it forces companies to alter their strategies in a way that benefit the consumer. In today's world new Digital Content providers have to bring something new, innovative, or cheap in order to compete with Netflix. Therefore, when this happens, Netflix must respond by either providing customers with an incentive to stay (such as adding offers or special content only found on Netflix) or lowering prices to become the better deal.
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Final answer:
Netflix must adapt to the increasing competition from companies like Amazon, Disney, and Apple by focusing on rebooting popular franchises and producing creative original content appealing to its primary audience of millennials and Gen Z. The company's strategy must also consider elasticity in consumer demand and possibly adjust pricing and accessibility to maintain customer loyalty in a crowded market.
Explanation:
How will new competition from digital content providers force Netflix to alter its strategy? In the evolving landscape of digital content streaming, major companies like Amazon, Disney, and Apple present increasing competition to Netflix. To maintain its competitive edge, Netflix must adapt its strategy to address these challenges effectively. This adaptation can be achieved through a series of strategic initiatives aimed at appealing to its core demographic of millennials and Gen Z audiences, alongside continual innovation in the creation of original content.
Netflix's response to competition includes rebooting popular franchises, which have shown to resonate with its primary user base, and doubling down on the production of creative original content. These measures are critical for Netflix to differentiate itself in a crowded market. Additionally, Netflix's earlier misjudgment of customers' preferences toward streaming over physical DVD discs has become an asset as consumer behaviors have shifted predominantly towards digital content consumption. This shift signifies the importance of flexibility and innovation in Netflix's strategy to remain a leader in the industry.
Moreover, the concept of elasticity, or the change in quantity demanded with respect to a change in price, plays a significant role in determining consumer reaction to Netflix's offerings versus competitors'. With the vast expansion of competitors in the streaming market, Netflix may also need to reevaluate its pricing structures and accessibility to ensure customer loyalty amidst a plethora of alternatives. The growing field of competitors likely has a greater impact than past strategies focused solely on price changes, thus pushing Netflix to reconsider its value proposition to retain and attract subscribers.
Why is it important for a marketing manager to critically analyze all the stages of product development process before launching a new product?
The marketing manager is responsible for outlining sales strategies for the product. It is the person who knows best who that product is intended for, the type of consumer it will buy. It is important for this manager to be aware of product processes to understand the product perfectly and to map out potential flaws that could compromise product marketing. This is extremely important because if there is a serious failure the product may no longer be purchased or may be returned in bulk by customers. Then, from the full knowledge of the product, the manager will have the confidence to create advertising methods to stimulate the product's target audience in order to maximize the company's sales and revenue.
Self-censorship, a form of media control in the United States, led to the MPAA film classification system which was enacted around ___________.
Answer:
errere
Explanation:
Answer:
1967-1968
Explanation:
The MPAA (Motion Picture Association of America) film classification system was enacted around 1967-1968 in order to rate the suitability of a film for certain audiences. This was a response to self-censorship and to the Motion Picture Production Code, which was in place before the system was introduced. However, the rating system is voluntary, and movies can chose not to have a rating.
What is the relationship between finance and marketing department in a business.
Answer:
Mutualistic
Explanation:
The Finance and Marketing departments of a business or organization have a Mutualistic type of relationship, because they both benefit from one another. The Finance department provides the Marketing department funds to market a product/service, which increases sales and in term provides an increased Return on Investment (ROI) for the Finance Department. Therefore both departments benefit from each other.
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Discribe Ignatious Loyola's perception of how God interacted with humanity in his world.
Answer: Explanation:
Ignacio de Loyola was the founder of the Catholic order Society of Jesus , the members were called Jesuits . His perception of how God interacted with humanity in this world is directly , specially with those who are receptive to God´s guidance. He presented some ideas as how people in general, not only the monks, could exame themselves, and thus have a personal relatioship with God.
what do you mean by transcribe welcome messages in any language?
Transcribing "welcome" words in all languages is a way of internationalizing the good or service provided so that it is marketed to anyone in any culture. This is a way of standardizing customer care, regardless of where the person is from. This is an imposing mechanism for organizations that transact products and services to different groups of people.
Transcribing welcome messages in any language refers to converting spoken or written messages of greeting into written form, while maintaining the original meaning.
Explanation:Transcribing welcome messages in any language means to convert spoken or written messages of greeting into written form. It involves listening or reading the welcome message and accurately writing it down.
For example, if you were asked to transcribe a welcome message in Spanish, you would listen to or read the message in Spanish and write down the words and phrases used, maintaining the original meaning.
Some SEO keywords for this topic would be transcribe, welcome messages, any language, transcription, greeting.
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That Ebbinghaus served as his own participant was problematic because:
a. his expectations might have influenced the results.
b. he could not manipulate an independent variable.
c. his studies were double-blind.
d. he didn’t have any experimenter bias.
Answer:
His expectation might have influenced the result
Explanation:
Hermann Ebbinghaus was the first psychologist who works on the systematical study of learning and memory carrying out by long exhaust experiments on himself. He argued that remembering is associated with the linking place, memory, time, cause, and effect. He tries to find out the effect of the association on memory, recording and mathematically see the pattern of memory to follow the aspect of the association. He tested different lengths and different leaning intervals, noting the speed of learning and forgetting. He found that he could remember meaningful materials such as poem ten times than his nonsense syllables. He also noted that more time the stimulus repeated, fewer times the times taken to reproduce the memorized information. Even the first few repetitions show the effect of memorization.
What are the consequences of a marketing team ignoring an organizations vision and direction? Provide examples to support your thoughts.
Answer:
Lack of Direction/Vision
When the company start to stray away from their vision and direction they will be put out of the game or threatened by their competitors who has a clear vision and direction that they follow.
Example that occured long ago was when Kodak was offered a chance to produce a digital camera and they didn't take the offer because they were confident in their current business procedures.
They didn't take note that the world is evolving technologically and digitally which can out smart their business.
Sticking to the vision and direction takes the company to the next level every time so they can keep improving constantly and keep up with the evolving world.
If the business doesn't keep bringing new ideas into their market no matter how much money the business makes it can be out smart by their competitors who may come up with brilliant relevant ideas.
In this way the business may lose customers because customers are always looking for new relevant products and can easily give up on the product that is not showing any improvement which is relevant to their needs at that time.
Vision and direction keep tbe company on track so that it can keep pleasing it customers.
So the marketing team has to ensure that they keep up with the vision and direction of the company so that the business keeps growing and can compete well with their competitors.
Explain the concept of detived demand. How does it affect marketing?
Answer:
The answer is: That the derivative demand should be positively influenced by marketing, since starting from the base that thanks to marketing, the demand for cars has increased, on the other hand, it also implies that the demand in all matters also increases premiums that make them up.
Explanation:
The demand for a product in the market produces a demand derived from the raw materials necessary for its production.
For example, when the demand for cars rises, the demand derived from auto parts also increases; and increasing the production of auto parts increases the demand derived from steel.
The answer is: That the derivative demand should be positively influenced by marketing, since starting from the base that thanks to marketing, the demand for cars has increased, on the other hand, it also implies that the demand in all matters also increases premiums that make them up.
Derived demand is the demand for a product or service that is generated by the demand for another product or service. It affects marketing by influencing companies' marketing strategies and resource allocation.
Explanation:Derived demand refers to the demand for a product or service that is generated by the demand for another product or service. It arises when the demand for one product or service is dependent on the demand for another product or service. For example, the demand for raw materials such as steel and plastic is derived from the demand for automobiles and electronics.
Derived demand can significantly affect marketing strategies. Companies need to understand the products or services that their target market uses in order to tailor their marketing efforts accordingly. By identifying the derived demand for their products or services, companies can better target their marketing messages and allocate their resources more effectively.
Which of the following do anthropologists believe to be true? a. Few, if any, isolated groups have existed in human history. b. Undiscovered human groups likely remain in the Amazon rainforest. c. Most human groups are influenced by only one or two other cultures. d. Humans tend to be divided into two groups: tribal or modern.
Letter A is the correct answer.
Anthropologist believe that few, if any, isolated groups have existed in human history. Recently, in Brazil, an isolated indigenous tribe has emerged from the Amazon forest and made peaceful contact with villagers from the border of Peru. This indigenous tribe has got its own way of communicating and can act in a very strange way but is very much aware of the presence of outsiders.
Most human groups are influenced by only one or two other cultures the following do anthropologists believe to be true. The correct option is c.
In general, anthropologists acknowledge the complex relationships and influences that shape human cultures. The formation and evolution of societies across time can be influenced by cultural dissemination and contact with various people. Given how intricate and varied cultural relations are, it is uncommon for any group to be impacted solely by one or two civilizations.
Thus, the ideal selection is option c.
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Africa is believed to be the center of origin of human being, true or false?
Answer:
true
Explanation:
Researchers mainly in Anthropology have theorized on the origin of humankind, and most point to the shores of Namibia and Angola, in south West Africa, just above today's South Africa as the birthplace.
The first humans orginated in Africa as a different group from the hominids, and some like the Neathertal are believed to have extinguised in the evolution process.
The debate in where exactly did humans originated suggests the Cradle of humankind a place in Johannesburg, South Africa.
There the hominids, the so-called homosapiens species is believed to have emerged approximately seven thousand years ago.
According to this view, human beings coming from Africa went further into the European and Asian continents, and the first humans in America are traditionally believed to have crossed throughout the Bering straight.
Describe various types of groups and their influence on consumer behavior?
Answer:There are different reference groups that has an influence on an individual purchasing decisions these are primary groups, secondary groups ,aspirational groups and dissociative groups.
Explanation:
Primary groups
These are the closest people to you it could be your family,closest friends or room mates.
These are the people you want to impress when you do the purchase so their opinions , feelings and views matters a lot in determining your decision to buy a particular product.
They will openly share their honest opinions and will help you in making a wise decision to buy a particular product, they will give you the confident you need in making a decision to purchase that product.
Secondary groups
These are the people you have professional relationships with such as your colleagues or your superiors.
This group doesn't have much influence on your decision because they can not openly share their opinion with you due to the level of the relationship you have with them which isn't too close.
Aspirational group
This is a group of people that you desire to look like , for example you will imitate how they dress up which will influence you to buying clothes that are similar to their clothes.
Dissociative group
This is the group that you don't want to look like as a result you will stay away from buying things that will make you look like them for example you will not buy clothes that they wear.
Answer:
There are different reference groups that has an influence on an individual purchasing decisions these are primary groups, secondary groups ,aspirational groups and dissociative groups.
Explanation:
Which of the following best describes the empty-nest syndrome?
(A) It refers to living alone after a divorce.
(B) It refers to the rise of one-parent families.
(C) It refers to the departure of grown children from the home.
(D) It refers to households where couples cannot biologically have children.
The correct answer is C. It refers to the departure of grown children from the home.
Explanation:
The "empty-nest syndrome" is a term used to refer to the feelings and experience of parents whose children departure from home usually because they have grown up and become independent or are leaving home to attend college or university. The empty-nest syndrome often implies feelings such as grief, stress, sadness or loneliness that can lead to depression although in most cases it just takes some time to parents to adjust to not living with their children. According to this, the option that describes empty-nest syndrome is "It refers to the departure of grown children from the home".
Final answer:
The correct description of the empty-nest syndrome is the departure of grown children from the home, which can cause parents to experience feelings of sadness or loss. The correct option is c.
Explanation:
The term empty-nest syndrome best describes the feelings of sadness or loss that parents or guardians may experience when their grown children leave the home. Based on the options provided, (C) It refers to the departure of grown children from the home, is the correct description of empty-nest syndrome. This experience can happen during Empty Nest I, where parents are still working after the children have left, or Empty Nest II, where the parents may also be retired. The adjustment to this new phase of life can involve significant emotional transition for parents as they navigate their roles and lifestyle in the absence of their children.
Dr. Zilgar has two groups of students who are otherwise equivalent study a chapter in a textbook. One group is assigned to study while classical music is playing and the other group is assigned to study while rock music is playing. He then measures how much they learn about the chapter. Dr. Zilgar’s research design is
Answer:
Experimental
Explanation:
Experimental Research Design- It is primarily used to explore the cause and effect relationships and to study the relationship between different variables. Researchers use this research design to compare 2 or more groups of 1 or more measures. In experimental design, the researcher tries to understand the relationship between dependent and independent variables. An experimental research is contemplated to be successful only when the researcher states that the change in the dependent variable is only because of the manipulation of the independent variable.
There are 3 principles of Experimental research design: randomization replication, and local control.
"The correct answer is that Dr. Zilgar's research design is a Quasi-Experimental Design.
Dr. Zilgar's research involves two groups of students who are studying under different conditions: one group with classical music and the other with rock music. The key aspect of his design is that the groups are otherwise equivalent, which implies that there is no random assignment of participants to the conditions. Instead, it is likely that the groups were formed based on some form of matching or were pre-existing classes.
In a true experimental design, participants would be randomly assigned to the conditions (classical music or rock music). Random assignment is used to control for extraneous variables and to ensure that each participant has an equal chance of being assigned to any of the conditions. This helps to establish a cause-and-effect relationship between the independent variable (type of music) and the dependent variable (amount learned).
However, in Dr. Zilgar's case, the lack of random assignment means that his design does not meet all the criteria of a true experiment. Instead, it falls under the category of quasi-experimental design. Quasi-experimental designs are similar to true experiments in that they involve the manipulation of an independent variable and the measurement of a dependent variable. However, they lack random assignment to treatment and control groups.
Quasi-experimental designs are often used in educational research where random assignment is not feasible or ethical. They can still provide valuable information about the relationship between variables, but the conclusions drawn from them are generally less definitive than those from true experiments due to the potential for confounding variables.
In summary, Dr. Zilgar's research design is a Quasi-Experimental Design because it involves the manipulation of an independent variable (type of music) and the measurement of a dependent variable (amount learned), but lacks random assignment of participants to the conditions.
Some nations, such as Sweden, are referred to as __________, which means that they include people who share a common culture and who are typically from similar social, religious, political, and economic backgrounds. a. counterculture societies b. subculture societies c. heterogeneous societies d. homogeneous societies
Answer:
d. Homogeneous Societies
Explanation:
A department within an advertising agency staffed with different levels of managers who serve as a liaison between agency and client.
Answer:
Account Management
Explanation:
According to my research on different business roles and responsibilities, I can say that based on the information provided within the question the department being defined is called Account Management. like mentioned in the question this department focuses on managing sales and relationships with individual customers or clients of the business that they work for. This is done in order to maintain or grow their company-client relationships.
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When a government employs embargoes, quotas, and tariffs on foreign goods entering the country, it is exhibiting ________.
Answer:
Trade Barriers
Explanation:
According to my research on international trade, I can say that based on the information provided within the question the term being defined are called Trade Barriers. Like mentioned in the question these are certain restrictions that are placed on different foreign goods entering the country. They either add certain costs to what is being imported or control the amount that can be imported. Such impositions are called Tariffs, Non-Tariffs or Quotas.
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What are some external sources used of collection of marketing intelligence?
Answer: External resources refers to resources outside organisation.
Explanation: Following are the examples of external sources of collecting marketing intelligence:-
1. The sources of primary data are customers, sales man dealers. Primary data refers to the first hand data that is new to every stakeholder.
2. Next comes the secondary data which is collected and published by some other entity. The sources of collecting such data are newspapers, survey reports, Government publications and other such services.
something the firm can persistently do better than its competitors.
Answer:
Includes customer, operational, product, and/or location excellence, is the right answer.
Explanation:
In marketing, a competitive advantage is a quality that permits industries to beat their contenders. A competitive advantage may involve availability to natural resources, including a low-cost power source or the high-grade ores, geographic location, introduction to modern technology and high entry barriers.
This concept of "Competitive Advantage" is the support a firm has over its contenders. There are various ways to gain this advantage such as by offering greater value to the clients, advertising goods or services with more economical prices etc.
They are pools of money that are managed by an investment company. They offer investors a variety of goals, depending on the fund and its investment charter.
Answer: Mutual Funds
Explanation:
Mutual funds are a kind of financial agency constituted of a pool of capital gathered from several investors to buy securities such as stocks and bonds. A mutual fund is run by a manager who allocates the fund's capital to make investors´ money grow, so every shareholder shares both the profits or losses of the fund. Each mutual fund has specific investment objectives.
Seeking niche audiences, as opposed to broadcasting's traditional audience-building concept.
Answer:
Narrowcasting
Explanation:
Based on the information provided within the question the term being defined in this statement is called Narrowcasting. This term (also known as niche marketing) is the process that media organizations focus on by targeting small specific groups (niches), individuals or audiences, instead of just marketing something into the bigger and wider mainstream audience. This is usually done in order to broadcast a certain message to the people that will actually care about that message.
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What are the four Ps of the marketing mix and how are they important?
Answer:Price, Product, Promotion, and Place
Explanation:The marketing mix is a crucial tool to help understand what the product or service can offer and how to plan for a successful product offering. The marketing mix is most commonly executed through the 4 P's of marketing
what is the first stage in the sales relationship-building process.
Answer:
Product knowledge
Explanation:
There are seven steps in the sales product relationship that affects sales.
Product knowledge Prospecting The approach Additional note on recording information The need assessment The presentation The close The follow-upProduct knowledge:
The step is fairly straight forward but many of the sales experts never do this. If someone is well versed in a particular product specially in technical one, then it is easy to get a monologue of the great feature it provides. The technical expert trained the salesperson in how the product work and the importance of that product. The relationship must be stated clearly never assume that prospects is easy.
Answer:
product knowlege
Explanation:
Geography had important effects on Native American cultures. Compare and contrast the way geography was reflected in the lives of the Puebloan and the Powhatan peoples.
Answer:
Pueblo peoples are Native Americans in the Southwestern US and Powhatan people are from from eastern Virginia.
Explanation:
Pueblos is the name that referred villages. Spaniards were building stone and other local material houses and they called them pueblos, so this term villages Pueblos came later from the people who lived there. At first, they were located at Chaco Canyon, Kayenta, Mesa Verde and later entire Colorado. They were hunters but also later they were building unusual houses and they are nowadays famous for it. Places were they were settled were having special effects on their life because of language and materials that helped them to build and survive.
Powhatan people were traditionally from eastern Virginia. Because of material that they could find in their location, they were building a different types of houses. Their houses were called yehakins, they were made by bending saplings and they were placing woven mats over the top instead of the roof. They were fishing and hunting. If they were moving to some other location, they would burn all of their previous houses.
The descriptive study usually takes the form of an experiment . has its major emphasis on the discovery of insights and ideas . is concerned with the determination of a cause‑and‑effect relationship . is concerned with determining the frequency with which something occurs . has as its main objective the establishment of priorities for future research .
Answer:
Is concerned with the determination of a cause-and-effect relationship.
Explanation:
Descriptive studies frequently takes the form of an experiment because the researcher often wants to know which variable causes certain behaviour that he's studying.
Should groups always approach conflict resolution through collaborative rather than competitive methods?
Answer:
Yes, groups are designed to work together towards a common goal or solution.
Explanation:
Yes, groups are designed to work together towards a common goal or solution. Therefore they need to approach a conflict in a collaborative way. Competitive methods are used when individuals are competing with one another for personal benefits. Groups should only partake in competitive methods when they are approaching conflict resolution against other groups.
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Is there an answer key to the applying marketing knowledge questions for the book marketing 12th edition?
Answer:
afdsdsfasdfs
Explanation:
The Main goal(s) of ethics for government acquisition professionals is to __________________.
a. Maintain the confidence and support of the American people.
b. Avoid even the appearance of impropriety.
c. Both answers are correct.
d. None are correct.
Answer:
C
Explanation:
Maintain the confidentiality and support of American people and avoid even the appearance of impropriety both are the necessary part of the govt. professional acquisition ethics. Government acquisition is a process through which government agencies purchase all goods and services. To ensure the contracting and morals are observed by all agencies. There are a set of rules that are to be used by all agencies. These are the rules that govern how to purchase goods and services that will be done by all federal agencies. Federal agencies are responsible for the large array of missions and goals and know how to achieve them all. They used a variety of approaches that includes but are not limited to contracting goods and services for further.
The main goals of ethics for government acquisition professionals are to maintain the confidence and support of the American people and to avoid even the appearance of impropriety. Their actions are critical due to their interaction with public resources and the potential impact on the government's reputation.
Explanation:The main goals of ethics for government acquisition professionals are indeed to maintain the confidence and support of the American people and to avoid even the appearance of impropriety. This indicates that answer 'c. Both answers are correct' is the accurate choice.
Government acquisition professionals are expected to have a high level of ethical behavior not only because they deal with public resources but also because their actions can impact the reputation of the entire government. Thus, their main goal should always be to maintain public confidence and to avoid, at all costs, anything that might suggest impropriety or unethical behavior.
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If you were a psychologist studying the impact of family relationships on success in school in first through third graders, would you use quantitative or qualitative analysis? Why? In addition, what type of study would you choose (cross-sectional, longitudinal, or sequential study)? What are the challenges to using the type of study you chose? (There are no wrong answers, but make sure that you use support from the text book to explain your response.)
Answer and Explanation:
I would incline toward quantitative investigation. Quantitative examination fundamentally give countless subjects. Its results can without much of a stretch be estimated. Results can be effectively appeared through target information. We can without much of a stretch recognize the connections between two factors.
Information gathered through quantitative research can without much of a stretch demonstrate the effects of causes and their belongings. These information can without much of a stretch be utilized to make forecasts. These quantitative looks into can be utilized for measurable and numerical investigation of information.
Quantitative research gives information through different surveys and polls. Different computational apparatuses and strategies can likewise be utilized on quantitative information.
Cross sectional investigation is otherwise called transverse examination. It is a kind of observational examination. It investigates information from a populace. It likewise contemplates of a particular point in time. Cross sectional examination meets a crisp example of individuals each time they are completed. Longitudinal investigations pursue a similar example of individuals after some time.
Consecutive investigation is blend of Longitudinal and Cross sectional examinations. It pursues a few contrastingly matured accomplices after some time. I would incline toward this consecutive sort of study. It incorporates different variables at same time.
It give an expansive base to playing with information. This can be useful in removing increasingly important data. Long haul impacts can likewise be assessed through this technique. We can without much of a stretch watch bigger impacts and patterns.
There is just weakness is that it is a costly strategy. There is likewise a major test to control every one of the components at same time. In the event that every one of the elements are not controlled in a well way, at that point it might cause a confused data. These haphazardness can be regularized uniquely through compelling treatment of information and different factors.
Take each of these situations and write out how each of these approaches would explain the behavior: Behaviorism, Psychoanalytic, Humanism and Neurobiological. Road rage or the extreme anger and behavior towards other drivers. Helping a fellow student who had dropped all of their books down the stairs. A new student not wanting to join in any activities at their new high school.
Answer:
Explanation:
1. Road rage of strong anger and behavior
Behaviourism: Having problems going on in family, workplace or school
Psychoanalytic: A family member passed in a car accident and caused was a driver.
Neurobiological: Having parents issues of anger, temper or medical conditions
Humanism: The driver was not correctly driving thee bus or car
2. Helping fellow students......
Behaviorism: The student who is helping to see someone to do like that
Psychanalytic: someday maybe she has fallen and another person helped her.
Neurobiological: Maybe someone in his family suffering from motor coordination problems.
Humanistic: Its a moral value increasing and needs for safety, belongingness.
3. A student not wanting......
Behaviorism: Maybe the seniors' behavior is rude towards him
Humanistic: The student is feeling sad because of the same activity he has done with school friends.
Psychoanalytical : The student has some conflicts related to the activities or maybe something wrong happen in school days.
Neurobiological: The new student may be suffering from some head injury that creates a problem in her vision.
When examining behaviors such as road rage, helping a fellow student, or a new student's reluctance to join activities, different psychological approaches provide varied explanations. Behaviorism would attribute these actions to learned responses from environmental stimuli and consequences. Psychoanalytic theory would suggest that these behaviors are driven by unconscious motivations and past experiences. Humanism would focus on the individual's choice and the search for personal growth and fulfillment, while a neurobiological approach would look at the underlying brain processes and genetic factors influencing the behavior.
Behaviorism explains road rage as a learned behavior possibly reinforced by past experiences of receiving a quick resolution after aggressive driving. It views the act of helping as a result of positive reinforcement. The new student's hesitance could be attributed to negative past experiences or lack of reinforcement for social participation. The psychoanalytic perspective might consider road rage as an expression of repressed emotions or drives, helping another student as a manifestation of the altruistic drive, and the new student's reluctance as a defense mechanism. Humanistic psychology would suggest the road rager is not fulfilling their potential for self-control, the helper is exercising free will and self-actualization by aiding another, and the new student's hesitance is a personal choice possibly reflecting their need for safety or belonging. Lastly, the neurobiological approach would look for explanations in terms of brain chemistry imbalances, neural circuitry, or hormonal influences contributing to aggression in road rage, the brain's reward system activating in helping behavior, and the potential role of stress or anxiety-related neurotransmitters in the new student's social avoidance.
There are various steps followed in product development. Briefly list the steps and provide explanations.
Answer: Product development refers to introduction of new product or enhancement of some existing product.
Explanation: It has following steps :-
1. Idea generation : It refers to marketing research and collection of different ideas and opinions.
2. Idea screening : It refers to analyzing those ideas.
3. Concept testing : It refers to analyzing the feedback from a sample of customers.
4. Business analysis : Evaluating whether the product will be profitable or not
5. Product development : Initiation of product introduction.
6. Test marketing : Introduction of product at a small stage
7. commercialization : Introducing product at a large level if the testing as successful.
8. Review of market performance : Monitoring the performance of product in the market.