Most companies are driven by the product concept and make their new product development decisions based on how the market would accept a new product concept.

Question

Quizplus · Accepted Answer

Most companies focus on consumers when developing and evaluating new product concepts, determining how consumers will view and use the product. This information can be determined by having the target consumers test the idea to gauge its usefulness.Typically, the process involves developing a detailed description of the product and asking prospective consumers to evaluate it and to indicate their willingness to purchase the hypothetical product. Most often, this is done using a focus group of representative target consumers.

Most Companies Are Driven by the Product Concept and Make