Question

All of the following would be part of the launch of a new product except Group of answer choices determining the marketing budget for the first year of the product. finalizing the marketing mix variables. determining the price for the product. making decisions regarding positioning the product. starting to make preliminary decisions about the target market.

Answer 1

Answer:

The correct option is starting to make preliminary decisions about target market.

Explanation:

Ascertaining how the product marketing campaign for the first of product launch is one of the processes of a new product launch as the awareness of the new product must be brought to the attention of would-be customers.

Finalizing marketing  mix variables such price,product,place and promotion is also a critical stage of the new product launch.

Determining the price at which the product should sell for is also included in the process of the new product launch,however price is determined with reference to the following points:

Cost of the product with an extra on top of it as mark-up

What customers can afford to pay

What competitors are charging

Corporate objectives