When Banquet made its chicken patties 20 percent larger to provide greater value to the consumer, it was not trying to reach a new target market. What has Banquet created?
a. an addition to an existing product line
b. a discontinuous innovation
c. an improved product
d. a repositioned product
Ans: c. an improved product
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Zippy Construction Ltd. has been experiencing extremely tough competition in recent months for its specialty housing components. Fred Farkle, President of Zippy Construction, was reading the latest industry statistics on overall sales of specialty components and noted that revenues had plateaued. It is likely that Mr. Farkle was facing which stage of the product life cycle?
a. maturity b. introduction c. growth d. decay
Justin invests $4,000 in a savings account for two years. The account pays 2% interest compounded annually. How much money will be in the account at the end of the second year?
A) $4,161.60 B) $4,160.00 C) $4,080.00 D) $1,161.60