Answered: 1. It can be used to decide on the…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

See similar textbooks

Related questions

Question

Transcribed Image Text:- Write the blank the correct answer given inšlde te Location studies Test Marketing Consumer markets Advertising pre-and pos-testing Data analysis Observation research Pricing tests Concept, product development, and product studies Target market studies Usage, attitude, and image studies External factor research Usage, attitude, and image studies 1. It can be used to decide on the packaging, to determine the market reaction and to justify brand positioning. 2. It can be utilized by marketers to calculate a product's or service's optimal price, and to determine price elasticity. 3. These studies can provide cost-effective ways on how to increase a product's/service's awareness level and brand trial. 4. The information from these researches helps marketers identify macro-environmental shifts. 5. It includes individuals and/or house-holds that purchase products and services for personal consumption. 6. It reveals the effectiveness of point-of-purchase collateral materials. 7. It determines ideal retail store locations and is a valuable tool in site selection. 8. These help identify, quantify, and understand the target market better. 9. These tests can determine advertising copy effectiveness, advertising re-call, sales promotion response rates, proposed product/service. 10. Based on these results, the company shall gauge the acceptability of a

Expert Solution