deally, before a new product or service is developed, a firm should have a precise ________, which is a statement defining the target market, specifying customers' needs, and defining what the product or service will be and do to satisfy consumers.
Based on the information provided within the question it can be said that the tool that is being described in this scenario is known as a protocol. This statement defines many important factors needed by the company for them to be successful. Besides what is mentioned in the question it also defines specific customers' needs, wants, and preferences as well as a well-defined target market
