The First Purpose of Concept Testing Is To

question 33

Multiple Choice

The first purpose of concept testing is to:

• A) estimate the likely sales or trial rate.
• B) identify very poor concepts for early elimination.
• C) refine revenue estimates claimed by marketers.
• D) identify the technology needed for development.

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Definitions:

Revenue Enhancement

Strategies or activities aimed at increasing the total revenue of a company, often through marketing, pricing adjustments, and expansion into new markets.

Cost Reductions

Measures implemented by a company to decrease its expenses and improve profitability.

Horizontal Acquisition

The merger or takeover of one company by another in the same industry or production stage, aiming for growth or reducing competition.

Ford

An American multinational automaker founded by Henry Ford, known for mass-producing affordable vehicles and pioneering assembly line production techniques.