Question

5. Firms can measure the success of a new product, by asking three questions. Which of the following is NOT one of these questions? Does the good satisfy the consumers' technical requirements? Is the product something that consumers consider viable and valuable? Is the product already offered by competing firms? Did sales of the product satisfy the producer's financial requirements?

Answer 1

Answer:

The correct answer is the third option: Is the product already offered by competing firms?

Explanation:

To begin with, if the a company is looking forward to measure the success of a new product by asking three fundamental questions then the most important ones are those that implicates the satisfaction of the consumers and of the managers that work in the financial area due to the fact that they are the ones who make all the calculates and decide in what to invest, therefore that the success of the product will be achieved if it satisfies the technical requirements of the clients, if it is consider viable and valuable and if the sales were good enough to satify the producer's financial requirements.

Answer 2

Answer:

Is the product already offered by competing firms?

Explanation:

This specific question must be made before the product is launched, while the development process is still going on, either in steps two or three: idea screening or testing the concept.

Once your product has been launched, you should worry about how to gain a higher market share than your competition or if your product satisfies your clients' needs, etc., but not about the fact that your competition was already selling it.