THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 37

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The distribution of IQ scores for high school graduates is normally distributed with mean μ = 104 and standard deviation σ = 16.
-What is the 95^th percentile of this normal distribution?

Understand the concept and importance of the test-marketing stage in new product development.

Know the various cost-effective methods of test marketing.

Recognize the necessity of following each stage in the New Product Development (NPD) process for its effectiveness.

Identify the different adopter categories in the product adoption process and their characteristics.

---

Definitions:

Realistic

Pertaining to the acceptance and representation of things as they truly are, emphasizing practical and factual views over imagination or speculation.

Empathy

The ability to understand and share the feelings of another person from their perspective.

Concrete Thinking

Involves focusing on the physical world and the direct experience, rather than abstract or hypothetical concepts.

Industry

The economic activity concerned with the processing of raw materials and manufacture of goods in factories.