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A group of entrepreneurial friends were in various stages of the new product development process. Mark was just starting out by trying to come up with possible ideas for a new company.  Myles ordered 250 of his newly designed razors and began selling them in one small market to see what shoppers thought.  If it went well, he would order more and expand to other regions.  Meredith had many ideas so she was asking her friends for their opinions to see which ones were really good that she can move forward with (and which were bad, so she could eliminate from consideration).  Maria was in the process of creating a potential promotional campaign for when her product launches over the summer.     Who is in the test marketing stage?

Five Below is an American chain of discount variety stores that sells items for $5 or less.  Which type of segmentation is primarily used by the company?  

What buying the service or product will do for the customer is called a(n) ________________________________ .

A group of entrepreneurial friends were in various stages of the new product development process. John had decided to open a men’s barber shop in Hialeah, so he began asking guys in the area if they would consider going to a new barber shop in Hialeah.  Andrea was in the process of creating a potential promotional campaign for when her product launches over the summer.  Raul was just starting out by trying to come up with possible ideas for a new company. Carolina just began selling her new t-shirts in Target stores nationwide.    Who is in the idea generation stage? 

Sebastian was working on a social media campaign for his new clothing shop that was scheduled to open in five months.  What stage of the new product development process is Sebastian in?

Coca-Cola sells its soda in as many stores as possible.  This is an example of _________________________ distribution.  

After Easter, most retailers (CVS, Walgreens, Publix and other grocery stores) who were selling Easter candy reduce their prices in order to sell their remaining inventory. This is an example of what pricing strategy?    

The new iPhone was introduced by Apple at a high price.  By the end of the year, the price of this model drops once the newer model is unveiled.  This is an example of what pricing strategy?  

Walmart used this website below to find companies that may be interested in selling their products at Walmart.  This is an example of a  __________________________________________ domain. 

The slogan “Fifteen minutes could save you 15% or more on car insurance” is used by the GEICO Gecko in broadcast and print media throughout the United States.  This is an example of __________________________________________ .