College Essays-When preparing a budget for product testing, explain why or why not you would invest the time and money to identify delighters, those things that make customers happy even if customers do not explicitly demand these features
7. (TCO 7) When we develop a strategic plan for a new product launch, we may create errors caused by our own biases. We may be overconfident and ignore possible problem areas. We may seek and overemphasize evidence that confirms our beliefs while excluding evidence that suggests we are heading in the wrong direction. We may take actions designed to minimize loss while ignoring acceptable risks that may result in gain. Explain the actions you would take to minimize the problems described in negatively affecting a strategic plan you were responsible for developing. Which source of error do you find most significant? Why? (Points : 25)
Question 8.
8. (TCO 8) New products may be physical goods or services or a combination of both. Commercial entrepreneurs and social entrepreneurs offer this mix of products and services, although the marketing plans for these activities differ. Compare and contrast the marketing plans developed by social entrepreneurs and commercial entrepreneurs in three areas: motive and aims, timeframe, and resources. (Points : 25)
Question 9.
9. (TCO 9) Products fail for many reasons, and testing can identify possible failure points before launch. When preparing a budget for product testing, explain why or why not you would invest the time and money to identify delighters, those things that make customers happy even if customers do not explicitly demand these features. If you would, what technique would you use to identify delighters? (Points : 25)
