Question

Which of the following represents an opportunity for generating a new product?
a.understanding the customer demographic change,
b.such as decreasing family size changes in professional standards economic change,
c.such as rising household incomes
d.All of these are such opportunities.

Answer 1

The correct answer is D. All of these.

Answer 2

Statements that explains opportunity for generating a new product are:

a.understanding the customer demographic change,

b.such as decreasing family size changes in professional standards economic change,

c.such as rising household incomes

• Generation of new product requires the careful study and understanding of what people want. It a process to know what can be input to the market to make gains.

• Understanding of the customer demographic change is very necessary before making a firm start making their products.

• The product must be affordable, which means understanding of household incomes as well as professional standards economic change is necessary.

Therefore, all the options are correct.

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