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The Commercialization phase of the product development process includes: ___________________________________.

The name of the business function that carries out research and the design and engineering part of the product development process in called: ______________________________.

In class, we watched a few video / television advertisements which specifically targeted the LGBTQ+ community, including an advertisement by: ______________________________.

BONUS QUESTION (worth up to 3 points): Identify a key area of learning / insight that you gained from this course (overall). Also, name and describe one specific action you will take in your personal or professional life as a result of this course. 

Creating cross-functional teams for the development of products so that they can be properly manufactured and serviced is known as the voice of customer. 

The 4 P’s of Marketing include product, place, promotion, and price. “Place” encompasses not only the physical location where products are sold but also the distribution channels and logistics involved in delivering the product to the consumer.

Anheuser-Busch’s video / television advertisement entitled “Rookie Umpire” (1985) was intended to target which customer segment?

The value proposition expresses what the new product or service will do for the customer, i.e., its features, functions, and benefits.

Women’s shoes that are of low quality, on average, will eventually sell at a price that is about 35% of the actual retail price. Shoe companies count on some customers to purchase low quality shoes at a high price. This is known as: _____________________________________________. 

The buying power of the LGBTQ+ community is approaching $1.5 trillion. This demographic is known to be tech savvy, early adopters, brand loyal, and having higher discretionary income. As a key executive with Samsung Electronics (in its U.S. operations), what specific steps will you take to produce new, innovative products to attract this important consumer group?