What are focus groups?

• A single person who does everything by themselves

• a group who can focus on anything and everything

• a small group consisting of members of the company’s target market who convene in order to share their opinions about a new product concept

• None of the above

Which is the most expensive stage of the product life cycle

• Introduction

• Growth

• Maturity

• Decline

What is the 3rd stage of the product life cycle

• Decline

• Introduction

• Growth

• Maturity

Product design is most likely to help a business

• Generate qualitative research

• Differentiate its product

• Improve its organisational structure

• Reduce productivity

What is marketing?

• The attributes of goods or services
• Both A and C
• The action of promoting and selling products or services.
• One that is heavily regulated by the government.

Trying to satisfy unlimited wants with limited resources defines _____ and is the fundamental problem of economics.

• scarcity

• needs

• wants

• microeconomics

can you can control the meso environment?

• yes

• no

Which of these is NOT an example of a specialty product?

• Louis Vuitton Bag
• Rolex watch
• Toothpaste 
• Lamborghini

A prototype is....

• A detailed description of a new product

• A model of a new product

• Example: Model of a car

• Example: Detailed description of a new car model

A protocol is....

• A detailed description of a new product

• A model of a new product

• Example: Model of a car

• Example: Detailed description of a new car model