Ideally,before a New Product Is Developed,a Firm Should Have a Precise

Multiple Choice

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

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