Sec.13.2-Market Research & Product Development

Companies take __________ steps in developing a new product.

• 3

• 5

• 7

• 9

The company has a ___________ time in the market before competitors start developing similar products.

• Short

• Long

Once a product is introduced, marketers track customers and their responses to it.

• True

• False

What do marketers study to analyze their target market?

• Demographics

• Brainstorming

• Marketing concepts

Which term refers to a model of a new product used to test how it can be made?

• Prototype

• Test-Market

• Brainstorm

• Segmentation

The gathering and analysis of information on the size location, and makeup of a market is called what?

• market analysis

• market research

• market study

• market exploration

The marketing ___________ involves determining the wants and needs of customers and providing them more efficiently and effectively than competitors.

• concept

• mix

• design

• plan

Facts about the populations are called ______________.

• demographics

• denominations

• demonstrations

• derivations

The people who are most likely to buy a company's service are called the ____________ market.

• demo

• target

• primary

• viable

Companies take 10 steps in developing a new product.

• true

• false