Product Development and Consumer Satisfaction
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Questions and Answers

What is the primary goal of a product?

  • To satisfy the needs and wants of consumers (correct)
  • To beat the competition
  • To be available in the market
  • To generate revenue for the company

    • What drives the success of a product?

  • The advertising budget allocated to it
  • The number of features it offers
  • The price at which it is available
  • The satisfaction of consumer needs and wants (correct)

    • What is the key to consumer loyalty?

  • Providing excellent customer service
  • Having a strong brand image
  • Offering discounts and promotions
  • Meeting the needs and wants of consumers (correct)

    • What is the primary focus of product development?

    <p>To meet the needs and wants of consumers</p> Signup and view all the answers

    What determines the value of a product to a consumer?

    <p>The satisfaction of the consumer's needs and wants</p> Signup and view all the answers

    A product's success is solely dependent on its ability to satisfy consumer needs.

    <p>True</p> Signup and view all the answers

    Consumer satisfaction is only dependent on the product's ability to meet their needs.

    <p>False</p> Signup and view all the answers

    A product can be successful even if it only satisfies consumer wants and not their needs.

    <p>False</p> Signup and view all the answers

    Consumers are only interested in products that meet their needs and ignore their wants.

    <p>False</p> Signup and view all the answers

    The satisfaction of consumer needs is a sufficient condition for a product's success.

    <p>False</p> Signup and view all the answers

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