You Are Asked to Justify Market Research for a New

question 90

Short Answer

You are asked to justify market research for a new product. You explain that it is required
to determine if the product will meet performance requirements.
to ensure that the new product will mesh with the firm's objectives.
to identify future production problems.
to identify benefits to be provided by the product.
to determine whether there will be a market for the product.

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Definitions:

Iris Diaphragm

A thin, adjustable circular structure in optical devices or the eye that controls the amount of light passing through by changing its size.

Condenser

A device used to condense a gas or vapor into a liquid.

Ocular Lens

The lens closest to the eye in a microscope or telescope, through which the viewer looks to magnify the image formed by the objective lens.

Objective Lens

The part of a microscope or telescope that is closest to the object being observed, focusing light and creating an initial image.