Ideally, Before a New Product Is Developed, a Firm Should

Multiple Choice

Ideally, before a new product is developed, a firm should have a precise protocol, a statement that identifies (1) what the product will be and can do; (2) a well-defined target market; and (3)

A) a clear plan for product distribution.
B) an analysis of potential competitive products.
C) a precise budget of how much can be spent at each step of the process.
D) specific customers' needs, wants, and preferences.
E) clear financial goals and expectations.