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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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Teal Company sells televisions at an average price of $814 and also offers to each customer a separate 3-year warranty contract
ki77a [65]

Answer:

A.

Dr Cash 266,178

Cr Sales Revenue 243,741

Cr Unearned Warranty Revenue 22,437

b)Current Liabilities:Unearned Warranty Revenue 90,579

Long-term liabilities:Unearned Warranty Revenue 181,158

Explanation:

Teal Company

A.

Dr Cash (814*327) 266,178

Cr Sales Revenue 243,741

Cr Unearned Warranty Revenue (277*81) 22,437

b)Current Liabilities:Unearned Warranty Revenue 90,579

(327×277)

Long-term liabilities:Unearned Warranty Revenue 181,158

(90,579×2)

4 0
3 years ago
How can communicators show respect and communicate effectively and positively with people in other cultures?
taurus [48]

<u>Answer:</u>

<em>C. By allowing members of the other culture to understand your role within their culture </em>

<u>Explanation:</u>

  • <em>Look to get it. </em>
  • <em>Try not to make assumptions. </em>
  • <em>Keep a receptive outlook. </em>
  • <em>Evade generalizations. </em>
  • <em>Start with who you know. </em>
  • <em>Go to multicultural systems administration occasions. </em>
  • <em>Get involved. </em>
  • <em>Keep your statement.  </em>
  • <em> Accept positive expectation. </em>

This is the way communicators show regard and impart successfully and decidedly with individuals in different societies, By enabling individuals from the other <em>culture to comprehend your job</em> inside their way of life.

8 0
3 years ago
Which example best describes reducing risky behavior?
Vaselesa [24]

Answer:

deciding not to buy a car

8 0
3 years ago
Ball Bearings, Inc., faces costs of production as follows:
Travka [436]

Answer:

Q        Fixed       Variable    Total    Marginal    Aver.     Aver.     Aver.

<u>           Costs        Costs         Cost    Cost           FC         VC         TC      </u>

0          100             0              100         -               -             -             -

1           100           50               150       150           100         50         150

2          100           70               170         20            50         35          85

3          100           90               190        20           33.33      30        63.33

4          100          140               240       50            25          35          60

5          100         200               300       60            20          40          60

6          100         360              460      160           16.67       60        76.67

The firm's profit in this case is <u>-$360</u>.

True or False: This was a wise decision. ⇒ <u>False</u>

Depends on the situation and which costs are avoidable if the company shuts down operations. If it produces 4 cases, the losses reduce from -$100 to -$40, but the contribution margin is positive since revenues exceed variable costs by $60. But under the current price level, the company will not be able to generate profits unless it increases its sales price or decreases its fixed costs.

Vaguely remembering his introductory economics course, the company's chief financial officer tells the CEO it is better to produce 1 case of ball bearings, because marginal revenue equals marginal cost at that quantity.

At this level of production, the firm's profit is <u>-$100</u>.

True or False: This is the best decision the firm can make. ⇒ <u>False</u>

Accounting profit is maximized at 4 cases since marginal cost ($50) = sales price ($50). At this point the total profit is -$40.

3 0
3 years ago
What is effective demand?
Ahat [919]
The level of demand that represents a real intention to purchase by people with the means to pay
5 0
2 years ago
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