Typically, a company will repeat the concept testing phase until it has one product in mind. It will then make a single prototype.
a. True
b. False
Indicate whether the statement is true or false
Question 2Data, information, and intelligence all have the potential to create value to a firm through better decision making.
Indicate whether the statement is true or false
Question 3Rafael wants to conduct market research about his brand's STP. Which of the following market research tools is the most relevant?
a. surveys
b. cluster analysis
c. scanner data
d. conjoint
Question 4If the coefficient of determination is approximately +0.38, the correlation coefficient might be ____.
a. -0.62
b. -0.38
c. +0.23
d. + 0.38
Question 5Rarely is customer feedback surprising when developing a new product.
a. True
b. False
Indicate whether the statement is true or false
Question 6Explain why marketing research, like all business activity, continues to change.
Question 7Factor analysis and cluster analysis do not complement each other very well.
a. True
b. False
Indicate whether the statement is true or false
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