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) specific customers' needs,wants,and preferences; and (3) __________.

A) what the product will be and do to satisfy consumers
B) a clear plan for product distribution
C) clear financial goals and expectations
D) an analysis of potential competitors' products
E) a precise budget of how much can be spent for the marketing program