BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A thought of new product is examined among potential consumers to determine consumer acceptance at the concept state. New product is designed according to the need of the potential buyers. Thus, at the concept stage or planning stage, a thought of new product is examined.

Detailed explanation-2: -Test marketing is the final stage before commercialization; the objective is to test all the variables in the marketing plan including elements of the product. Test marketing represents an actual launching of the total marketing program, done on a limited basis.

Detailed explanation-3: -Test marketing is a method that aims to explore consumer response to a product or marketing campaign by making it available on a limited basis to test markets before a wider release. It’s important to note that customers exposed to the product or campaign may be part of a test group without the customers’ knowledge.

Detailed explanation-4: -Therefore, the DOSD method is a possible candidate for reliably measuring consumer acceptance for a specified sensory attribute, although it was originally designed to measure the overall sensory satisfaction of a product.

Detailed explanation-5: -Concept development and testing is a crucial stage in the new product or service development. It takes place early on in the process and helps to identify key perceptions, user needs and wants associated with the product or service.