Brief On Measuring Preferences For Really New Markets
ARTICLE: Measuring Preference for Really New Products
RE: MARK: 4100
SYNOPSIS:
The article is about the problems faced when trying to evaluate consumer preferences for really new products. These products differ in that there are no products similar in the market. Consumers need some knowledge in order to evaluate the benefits of these RNPs. There is much uncertainty about the benefits of these products, thus it is difficult to obtain credible responses to methods use to evaluate incrementally new products. The researchers’ goal is to develop new methods or modify old methods of measuring consumer preferences.
The article elaborates further on the reasons why it is difficult to measuring consumer preferences for RNPs. Consumers must know what is the product, what benefits it provides, and how using it personally will benefit them. Information given during the measurement exercise may be lacking which means that participants will be unable to provide reliable......
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Approximate Word Count: 569
Approximate Pages: 3 (250 words per double-spaced page)
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