Select all the choices that a marketing manager must consider when introducing a new product in the market introduction stage.

Question

Multiple select question.

The cost of product development

How to promote the product

Which distribution channels to select

JIT inventory needs

The location of production

Answer 1

When introducing a new product in the market introduction stage, a marketing manager must consider the following choices:

1. The cost of product development - Understanding the investment made in developing the product is crucial for pricing and financial planning.

2. How to promote the product - Developing a promotional strategy to create awareness and generate interest in the new product is essential.

3. Which distribution channels to select - Deciding on the appropriate channels to reach the target market effectively ensures that the product is available to consumers.

4. JIT inventory needs - Just-In-Time inventory management may be relevant to ensure that product availability meets demand without overstocking.

The location of production, while important for logistics and costs, may not be a primary concern specifically tied to the market introduction stage compared to the other considerations listed. Therefore, it may not be a direct focus of the marketing manager at this stage.

In summary, the relevant choices for a marketing manager during this stage are:

• The cost of product development
• How to promote the product
• Which distribution channels to select
• JIT inventory needs