Suppose McDonald's was considering bringing a new kind of hamburger to its stores. What kind of research would it need to do in order to have some confidence that the new product would sell well, not just in the United States, but in its locations all over the world?
What are the trade-offs among all the types of research addressed? Suppose you are a manager of a small start-up firm with a limited budget. What kinds of research would be the most valuable? Why?
Why is the concept of derived demand so important for companies selling products and services to other organizations? What is an example where an industrial company has benefited from changes in end-consumer demand?
In many instances competitors are seen as being detrimental, that is, having fewer competitors is healthier than having many. Can you consider situations in which having competitors can work to your benefit?
Over the years, many famous brands have been repositioned. Some include KFC, Friendly's, Radio Shack and JC Penny. Using the online library or other scholarly resources, give several examples of brands that have been recently repositioned. How has this been implemented and for what reason?