QUIZ #2

Why is it important in market research to first evaluate the product without brand or price?

• Because the brand generates a bias

• Because the price generates a bias

• Because it is more important to evaluate the price first

• Both A & B are correct

Normally, when market research is done and the price of the product or service is included, the purchase intention:

• Tends to fall

• Increases

• Stays the same

• Disappear

One idea of what should I do if my concept evaluation grade was not good?

• Increase price

• Lower price

• 
  Add features to the product that increase its perceived value

• None of the above

What should be the better option if the rating of my product in the consumer evaluation was not good?

• Improve the product

• Create a better marketing strategy

• Change pricing strategy

• Nothing

What is more important to increase the cost of my product or increase the perceived value of my product?

• Increase the Cost

• Increase the perceived value

How can consumer feedback influence the development of a new product?

• It can help identify features that are important to consumers

• It has no impact on product development

• It only affects pricing strategies

• It can lead to increased production costs

What is the primary reason for conducting focus groups in market research?

• To gather qualitative insights from potential customers

• To determine the exact price point for a product

• To analyze sales data

• To create advertisements

Which factor is most likely to affect a consumer's perception of a product's quality?

• Brand reputation

• Product color

• Packaging design

• All of the above