As Part of Concept Generation, a Company May Use Focus

question 50

Multiple Choice

As part of concept generation, a company may use focus groups. A focus group will typically comprise:

• A) Staff who take apart competitors' services/products and focus on how they have been made
• B) People identified at random by street market researchers
• C) Contact staff in a service organisation or the salesperson in a product-orientated organisation
• D) Seven to ten participants who are unfamiliar with each other and have certain characteristics in common that relate to the particular topic

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Definitions:

Location Economies

The cost advantage of performing each stage in the value chain at the lowest cost for that activity.

Multidomestic Strategy

A corporate strategy that involves a firm offering products or services that are tailored to suit the tastes and preferences of different local markets.

Local Level

Pertaining to a small, specific area, often a community or locality, focusing on localized issues, governance, or initiatives.

Location Economies

The economic benefits that firms gain by performing a particular activity in the optimal location for that activity.