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Questions and Answers
What is the purpose of STP analysis in marketing research?
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?
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?
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)?
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?
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?
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?
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?
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?
'How can a product be improved to exceed customer expectations?' primarily relates to enhancing which aspect of the product?
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