Copyright

Ch 46: ORELA Business Education: Product Development, Market Research & Segmentation

About This Chapter

Access our video lessons and quizzes to establish a deeper understanding of product development, market research and market segments. Questions about these topics appear on the Oregon Educator Licensure Assessments (ORELA) Business Education exam.

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

The lessons comprising this chapter are designed to provide brief but informative overviews of the ways in which products are developed and marketed. You will have the opportunity to review strategies, processes and definitions of relevant terms. With a firm grasp of these concepts, you should demonstrate the following abilities and have the knowledge required to correctly answer questions found on the ORELA Business Education exam:

  • Exploring the stages of a product life cycle
  • Explaining the link between product development and business growth
  • Detailing the market research process
  • Understanding why market research is conducted
  • Describing market segmentation and why it is needed
  • Listing ways to segment markets
  • Identifying the four major business market segments

Video lessons employ simple and easy-to-follow instruction and present examples to facilitate the learning experience. Accompanying self-assessment quizzes allow you to check what you've learned using the same multiple-choice format found on the actual ORELA Business Education exam.

7 Lessons in Chapter 46: ORELA Business Education: 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.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

Other Chapters

Other chapters within the ORELA Business Education: Practice & Study Guide course

Support