What is concept testing, and why is it important?
What will be an ideal response?
In concept testing, a small sample of potential buyers is presented with a product idea through a written or oral description (and perhaps a few drawings) to determine their attitudes and initial buying intentions regarding a product. For a single product idea, an organization can test one or several concepts of the same product. Concept testing is important because it is a low-cost procedure that allows a company to determine customers' initial reactions to a product idea before it invests considerable resources in research and development.
You might also like to view...
According to Ponemon Institute's 2017 survey, which of the following was not among the causes of the most costly cybercrimes?
A. malicious insiders B. malicious code C. denial of service D. botnets
The role of leaders in the goal setting process is important for ______.
A. aligning the goals set for the employee with the organization’s goals B. job satisfaction C. accountability for results D. micromanaging goal attainment
The biggest change in the digital ecosystem brought by the mobile web has been:
a. The growth in the percentage of internet access coming from devices that are not laptops, desktops, or phones. b. The surge in users who have internet connectivity, but only through mobile devices. c. That social media now accounts for the majority of mobile-based internet interaction. d. The number of internet users has started to stagnate, but there is overall growth in the devices used to access the internet because of people using multiple devices.
Walmart has several layers of management in between the entry-level management position and CEO. This implies that the span of management for each manager is relatively narrow and the organizational height of Walmart is tall.
Answer the following statement true (T) or false (F)