Multiple Choice
An important benefit of big business was ______.
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0. Basic Principles of Economics
Introduction to Economics
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Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Introducing a new product into the market is called:
A
Product launch
B
Market entry
C
Price discrimination
D
Market segmentation
Verified step by step guidance1
Understand the terminology related to introducing a new product into the market.
Define 'Product launch' as the process of bringing a new product to the market for the first time.
Recognize that 'Market entry' refers to entering an existing market, which may or may not involve a new product.
Know that 'Price discrimination' is a pricing strategy, not related to introducing new products.
Identify 'Market segmentation' as dividing a market into distinct groups of buyers, which is different from launching a product.
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