Questions and Answers
What is the purpose of STP analysis in marketing research?
To segment, target, and position customers in the market
Which of the following is NOT a part of the 4 Ps of marketing mix analysis?
Performance analysis
In the context of new product development, what is the main focus of product testing?
Understanding customer perceptions
What is the primary objective of branding according to Aaker (1997)?
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Why is pricing new products considered crucial in test marketing?
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What aspect of consumer behavior is addressed by analyzing how potential customers perceive the value of a product?
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Which type of analysis focuses on determining how elastic the price of a product is in the market?
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What does the term 'STP' stand for in marketing research?
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'How can a product be improved to exceed customer expectations?' primarily relates to enhancing which aspect of the product?
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