________ satisfies the need for companies to identify and test new products to replace products which are at the end of their product life cycles.
A)Target market selection
B)Product research
C)Distribution research
D)Promotion research

Question

Quizplus · Accepted Answer

Product research is the process of identifying and testing new products which can be developed and marketed to replace existing products which are no longer popular among consumers. It involves analyzing customer needs and tastes to create new products, testing these products to ensure they are effective, and then launching them into the market to replace older products which have reached the end of their product life cycles. Target market selection, distribution research, and promotion research are other important aspects of the marketing process, but they are not directly related to the need to identify and test new products.

________ Satisfies the Need for Companies to Identify and Test