Market research and laboratory studies are essential tools of product development and the information collected can later be used by the advertising and sales forces.

Question

Quizplus · Accepted Answer

Market research and laboratory studies provide valuable information about consumer needs and preferences, product features, and potential drawbacks. This information can be used by advertising and sales teams to create effective marketing strategies, highlight product benefits, and address potential concerns. Therefore, market research and laboratory studies are essential tools of product development.

Market Research and Laboratory Studies Are Essential Tools of Product