Currently Learning

Question 1

What is differentiation

Answer 1

Making the product or service diffrent from its competitors

Question 2

Geographic

Answer 2

Location

Question 3

Demographic

Answer 3

Age , gender , income

Question 4

Psychographic

Answer 4

Hobbies beliefs attitudes

Question 5

Behavioural

Answer 5

User status, benefits , loyalty

Question 6

Prototype

Answer 6

First version of a device from which other forms are developed

Question 7

What is the difference between r and d and market research ?

Answer 7

Is making what customers wants

While MR is about finding what the customers wants

Question 8

What are the three things market research include ?

Answer 8

Aesthetics
Function
Economic manufacture

Question 9

What is functions

Answer 9

How it works is it reliable
Eg
BMW
Improved performance and tyres with more friction

Question 10

Economic manufacture
What are the 3 things we focus on it ?

Answer 10

• cheaper raw materials
• simple design less features
  -lower skilled workers

Question 11

Aesthetics what are the 5 senses and give example of what this means

Answer 11

Taste touch look smell sound
Eg smart phone increase the quality of the sound audio

Question 12

Sale revenue

Answer 12

Unit sold x selling price

Question 13

Gross profit

Answer 13

Sales revenue - costs

Question 14

Operating profit

Answer 14

Revenue - fixed and variable costs

Question 15

Why may business have to change design mix due to ?

Answer 15

Economic factors

Soucal trends

New completion

Question 16

Percentage change ?

Answer 16

New - old / old x 100

Question 17

What does market orientation focus on ?

Answer 17

Making the product based on customer needs ( market research )

Question 18

Product orientation

Answer 18

Making the best product possible
R and d

Question 19

What is demand ?

Answer 19

People who can afford a product and willing to buy it

Question 20

Market share

Answer 20

Percentage of total sales in the market that are made by the business