Focus Groups

question 220

Multiple Choice

Focus groups:

• A) Are usually composed of 10-15 people as participants.
• B) Yield results that are largely dependent on the viewpoint of the researcher.
• C) Always do a good job of representing the broader target market.
• D) Are expensive compared to other marketing research methods.
• E) Are conducted in a formal group setting.

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Definitions:

Product Development

The complete process of bringing a new product or service to market, from the initial idea through design and manufacturing, to sale.

Existing Markets

Markets that already have an established customer base, product offerings, and competitive landscape, as opposed to newly created or emerging markets.

Situation Analysis

An assessment process that identifies an organization's internal strengths and weaknesses, along with external opportunities and threats in its environment.

SWOT Analysis

A strategic planning tool used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.