Which Is the Best Description of Competitive Product Analysis

question 254

Multiple Choice

Which is the best description of competitive product analysis?

• A) A company looks at all the competitors' products and rates them on a scale of 1 to 10.
• B) An independent testing service, such as Consumers' Union, is hired to test and rate a group of similar products.
• C) A competitor's product is purchased, disassembled, and the components tested in order to generate ideas for improving the quality of products.
• D) An independent firm conducts consumer research in order to rate competing products.
• E) This is the result of a consumer survey by the marketing department.

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Definitions:

Tech Savvy

Being well-informed or skilled in the use of technology, especially computers and digital devices.

Innovator

An individual or organization that introduces new ideas, products, or methods, often leading change and advancement within their domain.

Consumer Adoption Process

The stages through which a consumer moves when deciding to accept and continue using a new product or service, including awareness, interest, evaluation, trial, and adoption.

Time To Market

The speed with which a company launches a product.