ENTREPRENEURIAL MARKETING
MARKETING MIX
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
increase potential sales
|
|
|
it might help the business to survive when the market has changed
|
|
|
more finance would be needed
|
|
|
dis-economies of scale
|
Detailed explanation-1: -Benefits and risks of a new product development strategy These strategies not only help companies achieve their business objectives, such as entering new markets, selling more to existing customers or winning business from competitors. They can also generate greater profitability and increased revenue.
Detailed explanation-2: -The product development process can help a company to increase its competitive marketability. By conducting market and consumer research, the company becomes better placed to understand current market challenges and options and anticipate future ones.
Detailed explanation-3: -Product development strategies are important to ensure value for your potential customers, as well as ensuring that there is demand and that your final products are of the highest possible quality before your take the products to market.