What is concept testing, and why is it important?

Question

Quizplus · Accepted Answer

The Answer is In concept testing, a small sample of potential buyers is presented with a product idea through a written or oral description (and perhaps a few drawings) to determine their attitudes and initial buying intentions regarding a product. For a single product idea, an organization can test one or several concepts of the same product. Concept testing is important because it is a low-cost procedure that allows a company to determine customers' initial reactions to a product idea before it invests considerable resources in research and development.

What Is Concept Testing, and Why Is It Important