While Market Tests Can Give Companies Valuable Information About the Way

question 49

Multiple Choice

While market tests can give companies valuable information about the way the market will react to a product,a huge downside of market testing is that:

• A)there are outside firms that can help companies run their market testing programs
• B)competitors will see the product before it is officially released and can take action to compete with it
• C)it shows how real people will react to your product
• D)it gives developers a chance to correct problems with the product before it is released officially
• E)it must be performed before a product is officially released to the public

Understand the concept of corporate social responsibility and its focus on improving social issues.

Comprehend the hybrid model of social entrepreneurship and how it balances economic and social goals.

Recognize the complexity of stakeholder alignment in social entrepreneurship.

Identify and describe wicked problems and their characteristics.

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Definitions:

Judgment

The capability to reach reasoned decisions or sensible judgments.

Heuristic Thinking

A cognitive process that simplifies decision making by using practical methods or experiential rules of thumb, often at the cost of accuracy or thoroughness.

Elimination by Aspect Heuristic

A decision-making process where alternatives are discarded by systematically evaluating them against a set of criteria.

Error

A mistake or discrepancy caused by a failure in judgment, incorrect reasoning, or an oversight.