A new company entering the market would have to spend time and money to make its product ..... enough to attract consumer attention.

COMPETITION AND MARKET STRUCTURES

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A new company entering the market would have to spend time and money to make its product ____ enough to attract consumer attention.

A	expensive
B	special
C	legitimate
D	powerful

Explanation:

Detailed explanation-1: -Diversification – The concept of entering a new market with altogether new products.

Detailed explanation-2: -One of the first steps in a product launch is to thoroughly research the market for your product. This means researching your target market and potential customers. It includes identifying and analyzing the needs of the market, the market size and your competition.

Detailed explanation-3: -Direct Exporting. Direct exporting is selling directly into the market you have chosen using in the first instance you own resources. Licensing. Franchising. Partnering. Joint Ventures. Buying a Company. Piggybacking. Turnkey Projects. More items

Detailed explanation-4: -Identify Your Ideal New Customers. Use Direct Response Marketing to Attract Customers. Give Something Away to Entice New Customers. Give Your Business a Face Lift to Increase Sales. Get The (Right) Word Out.

There is 1 question to complete.

ECONOMICS (CBSE/UGC NET)

ECONOMICS

COMPETITION AND MARKET STRUCTURES