On the Basis of the Research It Has Gathered on Consumer

question 88

Multiple Choice

On the basis of the research it has gathered on consumer perceptions, the tests it has conducted, and competitive considerations, the XYZ firm confirms its target market (or markets) and decides how its product will be positioned. Then the firm finalizes the remaining marketing mix variables for the new product, including the marketing budget for the first year. This process illustrates

• A) the product launch.
• B) the company's evaluation of results.
• C) premarket demonstrations.
• D) alpha testing.
• E) beta testing.

---

Definitions:

Creative Ideas

Original and innovative thoughts or concepts that can potentially lead to new solutions, products, or art.

Review Process

A systematic examination or assessment of something with the possibility or intention of instituting change if necessary.

Experience of Flow

A mental state of deep focus and immersion in an activity, where time seems to pass unnoticed, and performance is at its peak.

External Consequences

Outcomes or repercussions of actions that affect parties outside the individual or entity responsible for the actions.