Market Research
Focus groups are a part of what type of Market Research?
Primary Research
(True/False) If Lays Chips markets their new chip flavor to athletes, this would be an example of accurate Product Service Management.
What is the first stage in the product life cycle?
Introductory Stage
What are the two types of primary research?
Exploratory and specific.
What does the acronym KPI stand for?
Key performance indicator (e.g. sales revenue and market share)
If a company is raising sales in an attempt to get rid of a product (line), their products are in or entering the stage.
Decline
True or False: You can acquire secondary research just by looking up key words on the Web.
True
What does discontinuing/removing outdated products or services from a company achieve?
Cuts costs and prevent losses.
Apple introduced wireless headphones after being one of the top sellers of wired earbuds. This is an example of an innovation in the stage.
Maturity