Thank you for visiting Rather than rely on intuition what should Millie have used to make a better decision about introducing the new product. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
Rather than looking at the sales and income generated from the last product introduction in the spring, Millie should have used market research to make a better decision.
Market research is a systematic and objective method for collecting and analyzing information regarding market opportunities and threats, as well as the strengths and weaknesses of a product or service.
It also includes data on customer preferences and behavior, product demand, and other related economic and industry trends.
A company can use market research to identify target markets, gauge customer satisfaction, and determine whether or not to launch a new product or service based on customer needs, preferences, and purchasing habits.
It can also provide valuable insights into pricing, marketing, distribution, and other critical business decisions.
Therefore, it is vital to conduct market research before introducing a new product to the market. It helps you to make informed decisions, minimize risks, and maximize your chances of success.
To know more about market research click on below link:
https://brainly.com/question/30651551#
#SPJ11
Thank you for reading the article Rather than rely on intuition what should Millie have used to make a better decision about introducing the new product. We hope the information provided is useful and helps you understand this topic better. Feel free to explore more helpful content on our website!
- You are operating a recreational vessel less than 39 4 feet long on federally controlled waters Which of the following is a legal sound device
- Which step should a food worker complete to prevent cross contact when preparing and serving an allergen free meal A Clean and sanitize all surfaces
- For one month Siera calculated her hometown s average high temperature in degrees Fahrenheit She wants to convert that temperature from degrees Fahrenheit to degrees
Rewritten by : Jeany
