Which of the following is true of a concept test? a. It is accurate in predicting the success of new products that create new consumption patterns. b. It is often used at the development stage to rate product alternatives. c. It is considered a fairly good predictor of success for line extensions. d. It is used to evaluate new products after their prototypes have been created.

Question

Social Studies

Walker Sullivan

5 October, 01:45

Which of the following is true of a concept test? a. It is accurate in predicting the success of new products that create new consumption patterns. b. It is often used at the development stage to rate product alternatives. c. It is considered a fairly good predictor of success for line extensions. d. It is used to evaluate new products after their prototypes have been created.

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Tanner · Answer 1

Answer:c. It is considered a fairly good predictor of success for line extensions.

Explanation:

When a company want to introduce a new product they first test the idea through customer surveys that is referred to as a concept test. They will reveal the description, attributes and values of this product in making after which they can analyse the feedback from customers about this new product they want to introduce in the market.

Concept Testing can be applied to each of the below mentioned scenarios:

• Concept Presentation: This is done to present the new product to customers before it can be produced

• When the business want to upgrade their product.

• when the company want to raise prices of the product.

• When they want to know that their products meet customers expectations

so they can adjust it if Needed

Purpose:

• To discover their target market those who show positive feedback rating for the product

• discover customers preferences

• making customers aware of the new product.