Question

Select a problem that a firm might have bringing out a new product or service and discuss how the firm could overcome that problem.

Answer 1

Explanation:

A potentially serious problem for a company is to launch a new product or service on the market without conducting marketing research to investigate the acceptance of its product to its target audience.

Marketing research is an essential tool for a company to collect relevant data and information about what the consumers' needs and desires are, what benefits they expect from a product or service, what features the product should have, the design, the price, and several other essential variables to help the company better understand the market and make the best decisions when launching a new product