Why Would Researchers Want to Use a Simulation Rather Than

question 2

Multiple Choice

Why would researchers want to use a simulation rather than study an actual situation?

• A) The actual situation may be too costly.
• B) The actual situation may be too dangerous.
• C) The actual situation may be too time-consuming.
• D) All of the above

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Definitions:

Fashion Trends

The direction in which fashion is moving, with changes in consumer preferences leading to the popularity of certain styles, fabrics, or themes in a given season or period.

Product Life Cycles

Describes the progression of a product through different stages from its launch to discontinuation, highlighting changes in marketing, production, and sales strategies over time.

Innovation

The process by which ideas are transformed into new products and services that will help firms grow.

Alpha Testing

An attempt by the firm to determine whether a product will perform according to its design and whether it satisfies the need for which it was intended; occurs in the firm’s research and development (R&D) department.