Appropriate if: firm owns proprietary technology, potential consumers are profitable, consumer behavior does not deviate too far.

Product Development Strategy:

Achieve growth in existing markets through new products.
New products are intrinsically new or improved versions/substitutes.
Usually carried out through: Quality improvement (stronger, bigger, better), Feature improvement (safety, convenience, weight, material), Style improvement (new models).
Implemented by: Investing in R&D, acquiring competitors' products, strategic partnerships.

Firm enters a new market with a new product.
Most risky among growth strategies.
Requires both market development and product development.
Risk can be mitigated through related diversification.
Offers greatest potential for increased revenues by opening new revenue streams.

Structured & Direct Interviews:
- Most common, formal questionnaire, open/closed-ended questions, dichotomous/multiple choice, scales for responses, pretested, simple/unambiguous words.
- Field interviewers recruited & trained, appropriate for large samples, no high-skilled interviewers needed, no interviewer freedom to deviate.
- Interviewer records responses, followed by data tabulation, compilation, analysis, and report writing.
Unstructured & Direct Interviews:
- Mostly used in Exploratory Research (little understanding of problem).
- General instructions given to interviewer, plenty of interviewer freedom.
- Respondent can be an expert, open-ended questions.
- Interviews may be recorded with permission.
- Skilled interviewers needed, in-depth probing ("Depth Interviews").
- Interview lasts long, high cost per interview, not many can be conducted, not suited for large samples.
- Findings are indicative & qualitative.
Indirect Interviews (Projective Techniques):
- Partially structured & unstructured format.
- Employed when direct questioning won't reveal hidden/subconscious motives.
- Employ principle of "Projection."
- Respondent describes ambiguous situations (picture, incomplete sentence) in their own way.
- Respondent interprets situation in terms of needs, emotions, attitudes, motives & values.
- Specialist interviewers & analysts needed, time-consuming and costly.
- Findings are qualitative & indicative.

Personal Interview: Conducted at respondent's home/office/store. Opportunity for more & better information (face-to-face). Low non-response but high response bias. Better samples. More expensive.
Telephone Interview: Useful for limited information, quick & inexpensive. Not used for indirect interviews. Easier to get cooperation. Impersonation risk. Body language missed, but voice intonations observed. Short duration, inexpensive, wide reach.
Mail Interviews: Use postal mail or email. Respondent can answer at leisure. Quality of responses improve. Respondent can remain anonymous, revealing confidential information. High non-response rate. Requires long time. Bias introduced if only strongly-feeling respondents reply.

Conducted by trained moderator with 8-12 recruited participants with common backgr