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What is the difference between concept selection and concept testing?
Concept testing is based on data gathered directly from potential customers
Concept testing is closely related to ___.
The first few questions of a survey that verifies that the respondent fits the definition of the target market for the product are called ___.
List the five common customer survey formats
- Face-to-face interaction
- Postal mail
- Electronic mail
What is a storyboard?
A series of images that communicate a temporal sequence of actions involving the product
Which way of communicating a concept has more dynamism than the storyboard?
Physical appearance models are also known as ___.
Working prototypes are also known as ___.
What is the primary risk of working prototypes?
Respondents will equate the prototype with the finished product
What are the steps in the concept testing process?
- Define the purpose of the concept test
- Choose a survey population
- Choose a survey format
- Communicate the concept
- Measure customer response
- Interpret the results
- Reflect on the results and the process
What are durables?
Products that last several years
In the formula Q = N x A x P, what does Q stand for?
the quantity of the product expected to be sold
In the formula Q = N x A x P, what does A stand for?
The fraction of potential customers or purchases for which the product is available and the customer is aware of the product
In the formula Q = N x A x P, what does N stand for?
The number of potential customers expected to make purchases during the time period
In the formula Q = N x A x P, what does P stand for?
The probability that the product is purchased if available and if the customer is aware of it
In the formula P = C_definitely x F_definitely + C_probably + F_probably, what is C?
Calibration constants usually established based on the experience of a company with similar products in the past
What are the main factors which cause actual purchase patterns to differ from the purchase intentions expressed in surveys?
- importance of word-of-mouth
- Fidelity of the concept description
- Level of promotion
What is the primary benefit of a concept test?
Getting feedback from real potential customers
What are variables in the forecasting model?
- Overall size of the market
- Availability and awareness of the product
- Fraction of customers who are likely to purchase