_______________ is an investigative activity that a business choose to conduct, with the intention of making a discovery that can lead to either the development of new products or process, or the improvement of existing products or process.

This stage of the cycle could be the most expensive for a company launching a new product. The size of the market for the product is small, which means sales are low, although they will be increasing. On the other hand, the cost of things like research and development, consumer testing, and the marketing needed to launch the product can be very high, especially if it’s a competitive sector.

______________ is typically characterized by a strong growth in sales and profits, and because the company can start to benefit from economies of scale in production, the profit margins, as well as the overall amount of profit, will increase. This makes it possible for businesses to invest more money in the promotional activity to maximize the potential of this growth stage.

The product is established and the aim for the manufacturer is now to maintain the market share they have built up. This is probably the most competitive time for most products and businesses need to invest wisely in any marketing they undertake. They also need to consider any product modifications or improvements to the production process which might give them a competitive advantage.

This shrinkage could be due to the market becoming saturated (i.e. all the customers who will buy the product have already purchased it), or because the consumers are switching to a different type of product. While this decline may be inevitable, it may still be possible for companies to make some profit by switching to less-expensive production methods and cheaper markets.

Three types of researches that are conducted by Research team except

_____________ to knowing what customer need and want.

____________________ concept that relates to the functional or emotional needs or desires of a target market. Generally, a successful company identifies when a segment of customers is not effectively served by existing providers and develops and promotes products or services to match

_____________ is a series of steps that includes the conceptualization, design, development and marketing of newly created or newly re branded goods or services

Based on figure Ideas means ____________________

________________ is the activity of planning and organizing people, infrastructure, communication and material components of a service in order to improve its quality and the interaction between the service provider and its customers.