Using Customer Data from Test Marketing to Predict the Product's

question 67

Multiple Choice

Using customer data from test marketing to predict the product's likely success is known as

• A) forecasting.
• B) foreshadowing.
• C) test marketing.
• D) profit prediction.

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Definitions:

Prototype

An initial model of a product used to test and validate design principles before full-scale production.

Full-scale Operating Model

A detailed representation of a business's functions and processes, enabling it to operate at full capacity and efficiency.

Business Analysis

The practice of identifying business needs and determining solutions to business problems, often through examining data and workflows.

Economic Produced

The total value of all goods and services produced within an economy over a specific period.