WorksheetsSec.13.2-Market Research & Product Development
Total questions: 25
Worksheet time: 12mins
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
The first step of product development is to _________.
develop a business plan
obtain financing
generate ideas
screen ideas
Evaluating customer acceptance is ___________ in product development.
not included
the first step
not important
the last step
When referring to product development, the goal of _______ is to collect information from customers who have used the product to see if the product is likely to be a success.
brainstorming
market segmentation
market research
test-marketing
A prototype is a ___________ of the actual product.
computer image
model
illustration
mock-up
The division of a market for a product into groups of customers who have the same needs and traits is called market _____________.
research
sharing
segmentation
testing
Which is NOT included in the demographics of a population?
age
gender
income
last names
Which will most help a business collect customers' responses to a new product?
test marketing
market segmentation
understanding demographics
focusing on customer service
What is one result of effective market research?
immediate access to global markets
immediate access to start-up capital
information that helps a business identify opportunities
improved production management
Which is the final step in the process of developing a new product?
develop a business plan
develop the product
evaluate customer acceptance
introduce the product
This Step of Product Development includes estimated sales, costs, profit potential, market trends, and competing products.
Generate Ideas
Screen Ideas
Develop a Business Plan
Introduce the Product
There are a variety of ways to conduct Market Research that are effective?
True
False
It only takes one person to come up with new ideas.
True
False
Businesses use one way to reach customers.
True
False
Talking to a group of people in person or online is a way to conduct Market Research.
True
False
The Last step in the Product Development is:
Develop the Product
Generate Ideas
Evaluate Customer Acceptance
Introduce the Product
