Market Research/ Market Mix Flashcards
1
Q
What is market research?
A
See how well a product would do
2
Q
Whats a Product?
A
Its a item offered for sale, can also be a service
3
Q
Stages in developing new products?
A
1) Research and development
2) product design
3) manufacturing
4) sell
4
Q
Whats product differentation?
A
When a business makes their products or service diffrent from the competition
5
Q
what are Ways to differentiate products/services
A
Branding,USP,Location,Design,Product mix,Quality
6
Q
Why is branding important?
A
Its important because it allows customers to recolacte what is similar to it
7
Q
Whats USP?
A
Unique selling point
8
Q
Why is location important?
A
Its important because it allows for having passing trade
