MCQ Answer | A Company Getting Ready To Launch A New Product Must Make Several Decisions. The Company Must First Decide On

A Company Getting Ready To Launch A New Product Must Make Several Decisions. The Company Must First Decide On
Multiple Choice Question Answer

The correct answer is D "When to introduce the new product", as now the company will decide when to give introduction about new launching products to target customers in the market. When a product is ready, then, it is the right time to launch a new product in the market. Before a product is getting ready to launch, test it, check its quality and see if it satisfies customers' needs.

Before introducing the new product in the market, the company must make many important steps. The company should make long-term strategies and short-term strategies. The company generate new product ideas. Evaluate the new product ideas whether it fits the strategic and tactical strategies or not. Low ranked products are rejected while high ranked products are accepted for further processing. After that product development process is started by using innovative methods i.e., use of new technology to develop the product and then test the product from proposed customers.

After the product development process and testing the product, the company needs to make analysis of product by evaluating whether the product gives to the business a fair return or not? After that technical and marketing development of the product is made. Then the company needs to do Test Marketing and make evaluation of the selected product whether it will be a successful product to be launched in the market or not.

After launching the product, the company commercializes the product through different mediums such as media, ads campaign, online store, etc.

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