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sleet_krkn [62]
3 years ago
15

A concept test is an in-depth questionnaire filled out both by internal marketing personnel and external customers to ensure tha

t the final product meets all the needs expressed in the original product plan.
Business
1 answer:
Vedmedyk [2.9K]3 years ago
4 0

A concept test is an in-depth questionnaire filled out both by internal marketing personnel and external customers to ensure that the final product meets all the needs expressed in the original product plan is given below

Explanation:

1.Concept testing is validating your product concept with your target market prior to launch.

3 Steps To Build An Effective Concept Test

Step 1: Choose your test methodology. ...

Step 2: Design and field your study. ...

Step 3: Identify the most promising product concept.

2.Ways of measuring customer satisfaction include:

  • Survey customers. ...
  • Understand expectations. ...
  • Find out where you are failing. ...
  • Pinpoint specifics. ...
  • Assess the competition. ...
  • Try to measure the emotional aspect. ...
  • Loyalty measurement. ...
  • A series of attribute satisfaction measurement.

3.A company's success lies in its ability to offer products and services that fill customer demand. Measuring customer satisfaction helps you take stock of that demand, find out what your customers like, and maybe even discover what they don't like and what leads to dissatisfaction.

4.The 5 Biggest Challenges in Measuring Customer Satisfaction

  • Reducing the financial impact of customer dissatisfaction. ...
  • Controlling the cost of customer acquisition. ...
  • Highlighting what is most attractive about your company's image. ...
  • Reinforcing the relevance of your approach to continuous improvement. ...
  • Improving the efficiency and the adequacy of your offerings.

5.A product concept is a detailed description of an idea, which you describe from the perspective of your customer. Taking your customers' viewpoint when describing your product concept will help you test and evaluate how responsive your market will be to your product.

6.The major purpose of concept testing is to evaluate the ideas in a better way. This is done to determine the buying intentions and attitudes of the customers towards the product. The main idea is to determine the initial reaction of the customers for the product idea.

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6 0
3 years ago
Which statement of cash flow method would require the disclosure of the noncash transaction of acquiring a factory financed enti
Pie

Answer: Direct and indirect statement of cash flows

Explanation: statement of cash flows shows the overall computed inflow and outflow of cash that took place in an organization over a given period of time. It shows how well an organization managed it's cash which is used to settle it's debts and make profit.

The direct method only considers the cash inflow and outflow into account and produces the cash flow from it's operations.

The indirect method considers the net income as the starting point and prepare the inflow and outflow using adjustments.

3 0
3 years ago
Of the last 100 customers entering a computer shop, 25 have purchased a computer. If the classical method for computing probabil
nlexa [21]

Answer:

correct option is b.0.50

Explanation:

given data

computer shop = 100 customers

purchased computer = 25

solution

we know that past data does not affect the probability of next outcome

so when they buying computer or net

so here

probability of customer buy computer is = \frac{1}{2}  = 0.5

and

probability of customer not buy computer is = \frac{1}{2}  = 0.5

so here chance of buying as they buying or not buying is 50 %

so correct option is b.0.50

3 0
3 years ago
Each of the following is a disadvantage of buying rather than making a component of a company's product except that Select one:
shtirl [24]

Answer:

The correct answer is letter "C": Profitable product lines may be dropped.

Explanation:

The decision of making a product in-house or relying on an outsourcing manufacturer is evaluated mainly by comparing the costs that handling a new production line carries. While outsourcing can save a company a great amount of money in <em>labor, equipment, materials, </em>and <em>knowledge</em>, quality control is not managed directly.  

However, <em>a new line of components in-house implies incurring in most costs that could conflict the production of existing profitable product lines that could see their numbers reduce gradually until the product drops.</em>

6 0
3 years ago
In the united states, the average person mostly patronizes firms that operate in?
Likurg_2 [28]

In the united states, the average person mostly patronizes firms that operate in Monopolistic Competitive Market.

Monopolistic Competitive Market is a kind of market structure where numerous associations are accessible in an industry, and they produce relative yet isolated things.

None of the association participate in a partnership, and every association work unreservedly no matter what the engaging quality of various association. The market structure is a type of Imperfect Competition.

Imperfect Competition alludes to the circumstance where the characteristics of a market don't satisfy every one of the essential states of an entirely serious market and consequently, it cause market weaknesses when it ends up actually working, and bringing about market disappointment.

To learn more about Monopolistic Competitive Market.

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3 0
2 years ago
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