Ch 49: MTEL Business: Product Development, Market Research & Segmentation

About This Chapter

The engaging lessons in this chapter can help you strengthen your knowledge of product development, market research and segmentation. Explore these subject areas to improve your chances of success on the MTEL Business assessment.

MTEL Business: Product Development, Market Research & Segmentation - Chapter Summary

This chapter offers resources you can use to prepare for product development, market research and segmentation questions on the MTEL Business assessment. After reviewing the lessons, you may be ready to:

  • Discuss product life cycles
  • Share the processes and strategies of product development and business growth
  • Define, explain the purpose of and share strategies for market research
  • Describe how to develop a market research project
  • Explain why market segmentation is important to marketers
  • Provide details about geographic, demographic and psychographic market segmentation
  • Detail how to segment business markets

The flexibility of this chapter allows you to explore the lessons in a manner that works best for you. Watch them in any order and as often as needed. Also, take advantage of timelines that allow you to identify and skip to key topics within the lessons.

7 Lessons in Chapter 49: MTEL Business: Product Development, Market Research & Segmentation
Test your knowledge with a 30-question chapter practice test
Product Life Cycles: Development, Design and Beyond

1. Product Life Cycles: Development, Design and Beyond

Have you ever considered that products, like humans, have a life cycle? You will learn about product life cycles and how they are designed and developed. See how a product goes from its introduction to being retired.

Product Development and Business Growth: Process & Strategies

2. Product Development and Business Growth: Process & Strategies

Product development is an essential part of any company's growth strategy. It allows for growth in sales and market share. This development, though, is a finely tuned process that we will discuss in this lesson.

Marketing Research: Definition, Purpose and Role in Marketing Strategy

3. Marketing Research: Definition, Purpose and Role in Marketing Strategy

If you're a business owner, you need to know your clientele. Watch this lesson to understand the purpose and role of marketing research strategy in an overall marketing plan. This might be just the info you need!

How to Establish a Marketing Research Project

4. How to Establish a Marketing Research Project

Most consumers don't realize how much behind-the-scenes research and analysis goes into the marketing of a product. With millions of dollars at stake, marketers must use information available to formulate a key marketing plan, decision or change in strategy.

Market Segmentation: Why Market Segments Are Important to Marketers

5. Market Segmentation: Why Market Segments Are Important to Marketers

Marketing managers must understand the importance of segmenting a market and the specific criteria for successful segmentation. Before the 1960's, most companies tried to market products to the masses with declining success. It is important to identify key target markets!

Market Segmentation: Geographic, Demographic, Psychographic & More

6. Market Segmentation: Geographic, Demographic, Psychographic & More

Marketers must be effective at creating niche segments to promote and sell their products or services. There are five specific ways that markets can be segmented in order to create a successful sales opportunity.

How to Segment Business Markets Step-by-Step

7. How to Segment Business Markets Step-by-Step

Discover the four segments of business marketing in this lesson. You will also learn the distinguishing characteristics of each segment so you may easily identify each of them.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the MTEL Business (19): Practice & Study Guide course

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