Theme # 1 Reading Conta 10

What is the first step in launching a new product?

• a) Develop a marketing strategy

   

• b) Identify a clear idea

• c) Conduct market research

• d) Set pricing and distribution channels

What is the purpose of conducting market research?

• a) To create a prototype

• b) To identify competitors

• c) To understand the target market

• d) To set pricing strategies

What is the purpose of creating a prototype?

• a) To gather feedback from customers

• b) To finalize the product design

• c) To determine pricing strategies

• d) To conduct market research

 

What is the key component of a marketing strategy?

• a) Creating a prototype

• b) Setting pricing strategies

• c) Identifying competitors

•  

  d) Promoting the product effectively

How should entrepreneurs prepare for the launch of a new product?

• a) By monitoring performance metrics

• b) By developing a marketing strategy

• c) By conducting market research

•  

  d) By planning a launch event or campaign

Why is it important to monitor the performance of a new product after its launch?

• a) To finalize the product design

• identify areas for improvement.

• c) To identify competitors

•  

  d) To set pricing strategies

What should entrepreneurs do to stay ahead of competitors?

• a) Set pricing and distribution channels

• b) Reflect on successes and failures

• c) Develop a marketing strategy

• d) Continue to innovate and improve their product

How can entrepreneurs learn from their experiences during the product development process?

• a) By monitoring performance metrics

• b) By conducting market research

• c) By reflecting on successes and failures

• d) By creating a prototype