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Questions and Answers
What is the primary goal of a product?
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?
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?
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?
What is the primary focus of product development?
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What determines the value of a product to a consumer?
What determines the value of a product to a consumer?
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A product's success is solely dependent on its ability to satisfy consumer needs.
A product's success is solely dependent on its ability to satisfy consumer needs.
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Consumer satisfaction is only dependent on the product's ability to meet their needs.
Consumer satisfaction is only dependent on the product's ability to meet their needs.
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A product can be successful even if it only satisfies consumer wants and not their needs.
A product can be successful even if it only satisfies consumer wants and not their needs.
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Consumers are only interested in products that meet their needs and ignore their wants.
Consumers are only interested in products that meet their needs and ignore their wants.
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The satisfaction of consumer needs is a sufficient condition for a product's success.
The satisfaction of consumer needs is a sufficient condition for a product's success.
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