Popular Pricing Research Techniques
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Questions and Answers

What is the purpose of STP analysis in marketing research?

  • To analyze the product performance
  • To determine the price levels in test marketing
  • To forecast market trends for existing products
  • To segment, target, and position customers in the market (correct)
  • Which of the following is NOT a part of the 4 Ps of marketing mix analysis?

  • Performance analysis (correct)
  • Price/pricing analysis
  • Product analysis
  • Place/placement analysis
  • In the context of new product development, what is the main focus of product testing?

  • Understanding customer perceptions (correct)
  • Optimizing price levels
  • Forecasting market trends
  • Evaluating promotion strategies
  • What is the primary objective of branding according to Aaker (1997)?

    <p>Establishing brand identity and personality</p> Signup and view all the answers

    Why is pricing new products considered crucial in test marketing?

    <p>To establish optimal price levels</p> Signup and view all the answers

    What aspect of consumer behavior is addressed by analyzing how potential customers perceive the value of a product?

    <p>Price elasticity</p> Signup and view all the answers

    Which type of analysis focuses on determining how elastic the price of a product is in the market?

    <p>&quot;How elastic is the price?&quot;</p> Signup and view all the answers

    What does the term 'STP' stand for in marketing research?

    <p>&quot;Segmentation, Targeting, Positioning&quot;</p> Signup and view all the answers

    'How can a product be improved to exceed customer expectations?' primarily relates to enhancing which aspect of the product?

    <p>Features and attributes</p> Signup and view all the answers

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