Question

The executives of the company need you to present on a new skateboard project which will be manufactured either in-house or in a joint venture with another manufacturing company in a different state. How would you begin to look for relevant data to prepare for this presentation

Answer 1

Explanation:

In this case, we see that the product's life cycle is in the introduction phase.

This is the first phase, where the initial phase of the product's life occurs, it is the phase where a new product will be launched on the market, so in this phase the ideal is to have a market segmentation, which occurs in the identification of a group of people with similar product responses and preferences, in order to find the ideal target audience for the new product to be launched and direct the advertising strategy and product features to that potential audience.