- Indicate the student’s research area of interest
- Provide a brief outline of proposed research
- Identification of potential resources necessary for the research
- Identify suitable supervisors
- Overall planning of research process
What are the 4 types of consumer products
There are 4 main types of consumer goods. They are convenience goods, speciality goods, shopping goods, and unsought goods.
What are the 7 types of product
Types of Product – Goods, Services, Experiences, Convenience, Shopping, Specialty Goods, Industrial Goods and Consumer Goods.
What are the types of concept testing?
- Comparison testing
- Monadic testing
- Sequential monadic testing
- Proto-monadic testing
What are the 5 core marketing concepts
5 core customer and marketplace concepts are; (1) needs, wants, and demands, (2) market offerings such as products, services, and experiences, (3) value, satisfaction, and quality (4) exchange, transactions, and relationships, and (5) markets.
What is another name for the product test
Product testing, also called consumer testing or comparative testing, is a process of measuring the properties or performance of products.
What are the 4 components of a product
These four components are the market, the problem, the solution, and the product itself.
Can the production concept still work
Production concept is relevant in a new market which is not saturated with competition.
More you produce, more customers you get. The market can still absorb more of the product and can earn profit but still keeping the prices low.
It can help grow new categories in the market.
What is basically the concern of the company when they focus in production concept
The basic proposition of the production concept is that customers will choose products and services that are widely available and are of low cost.
So business is mainly concerned with making as many units as possible.
What is concept testing stage
Concept testing is an early stage of product development during which the appeal of the underlying concept of the product/service being developed is tested.
What is concept testing in NPD
Concept testing (to be distinguished from pre-test markets and test markets which may be used at a later stage of product development research) is the process of using surveys (and sometimes qualitative methods) to evaluate consumer acceptance of a new product idea prior to the introduction of a product to the market.
What are the 3 basic principles in the field of marketing
The 3 Principles of Marketing: Awareness, Nurturing, and Trust.
What is the difference between customer centric and product-centric
A product-centric company focuses its attention on the product regardless of the customers and demand in the market.
A customer-centric company puts the customers at the core of every strategy and focuses on creating solutions that satisfy its users’ needs.
What is UX concept testing
Concept testing is when you ask people their thoughts on a concept or idea.
It’s a valuable tool to determining product-market fit. By asking participants what they think about your concept, you’ll mitigate the risk of releasing a product that falls flat of customer expectations.
Is Apple product focused or customer focused
1. Create an Experience Ecosystem. Apple has a legendary focus on the customer experience.
Every customer touchpoint (products, the website, ads, app store, and retail store) yields a consistent Apple experience.
What are the stages of product testing?
- Step 1: Idea Generation
- Steps 2 and 3: Idea Screening/Concept Development and Testing
- Step 4: Business Analysis
- Step 5: Product Development
- Steps 7 and 8: Commercialization/Monitoring and Evaluation
What are the 4 principles of branding?
- Brand Identity
- Brand Meaning
- Brand Response
- Brand Relationship
What should product testing investigate?
- Environment Testing in Product Development
- Regression Testing in Product Development
- Automated Testing in Product Development
- Decreased Product Development Time
- Improved Customer Confidence
- Enhanced Quality and Reliability
- Reduced Costs
- Increased Profitability
Is Apple product centric or customer centric
Google, Apple are few of the product-centric brands while Amazon is a good example of customer-centric brand.
If you are building an innovative product that is one of its kind and whose need has not yet been realized in the marketplace, then going product-centric is the way.
What are the 5 marketing philosophies?
- Production Concept
- Product Concept
- Selling Concept
- Marketing Concept
- Social Marketing Concept (Societal Marketing Concept)
What are the five product levels?
- Core benefit: The fundamental need or want that consumers satisfy by consuming the product or service
- Generic product:
- Expected product:
- Augmented product:
- Potential product:
What types of questions should you use to test concepts?
- What do you like about this idea/product?
- What do you dislike about this idea/product?
- What other products does this idea/product remind you of?
- How would you improve this idea/product?
What are the 7 major scope of marketing
The 7 functions of marketing are promotion, selling, product/service management, marketing information management, pricing, financing and distribution.
Understanding the core functions of marketing can help you better focus your efforts and strategies to support your business.
How much does concept testing cost
Firstly, if using research agencies, concept testing can typically cost between $11,000 to $30,000 (£8,000 to £20,000), which is dependent on the sample size, the number of concepts being tested and the level of difficulty interviewing your target audience (incidence).
Is a product tester a good job
Product testing is a lucrative business. Brands are paying hundreds of dollars to people for reviewing their products and completing surveys before launching new products in the market.
The process is also known as Pilot testing, which allows companies to know whether their product has a potential market.
What are the 4 stages of marketing
The marketing process consists of four elements: strategic marketing analysis, marketing-mix planning, marketing implementation, and marketing control.
Who developed the 4p’s of marketing
The 4 Ps, in its modern form, was first proposed in 1960 by E. Jerome McCarthy; who presented them within a managerial approach that covered analysis, consumer behavior, market research, market segmentation, and planning.
Phillip Kotler, popularised this approach and helped spread the 4 Ps model.
Is Tesla product-centric
The great examples of successful product-centric companies are – Apple, Google, and Tesla. Whereas a customer-centric company focuses on identifying the needs of key customers and then continuously work upon to meet their service requirements.
What are the 3 P’s of service marketing
Instead, we’re going to talk about the three often forgotten P’s of marketing which apply specifically to service businesses: people, process and physical environment.
What are the 5 marketing management orientations
An organisation focus (and subsequently its marketing) is centred around five key categories, classified into the following orientation groups: Production orientation, product orientation, sales orientation, societal orientation and market orientation.
References
https://www.britannica.com/topic/marketing/The-marketing-process
https://www.mbaskool.com/business-concepts/marketing-and-strategy-terms/3235-production-concept.html
https://www.csekcreative.com/the-3-p-s-of-service-marketing/
