Which of the following is a NOT a threat to accurate measurement of consumers pr

Question

Which of the following is a NOT a threat to accurate measurement of consumers preferences for a new product/service during concept testing?

Consumers have strong and stable preferences for existing products/services in markets they have more experience with so are not very receptive towards new product/service concepts

Consumers are prone to survey method effects, such as information overload/cognitive burden, which limit rational decision making during concept testing

Respondents to a survey, if not properly incentivised, will not provide accurate information about their preferences.

Consumers do not know and understand their preferences for a new product/service concept well enough to be able to articulate them on a survey.

Consumers have strong and stable preferences for existing products/services in markets they have more experience with so are not very receptive towards new product/service concepts

Consumers are prone to survey method effects, such as information overload/cognitive burden, which limit rational decision making during concept testing

Respondents to a survey, if not properly incentivised, will not provide accurate information about their preferences.

Consumers do not know and understand their preferences for a new product/service concept well enough to be able to articulate them on a survey.

Explanation / Answer

Concept testing is basically a process of using surveys to evaluate the acceptance of a product/idea by the consumers before their introduction in the market.

Looking at each of the options given above,

If customers already have very strong and stable preferences for existing products or services, in that case, it is really tough to know how they are going to perceive the new product. Most of the cases, they will not be willing to even try the new product. Thus, they are not very receptive towards new product/service concepts. This is surely a threat to measuring consumer preferences accurately.

When consumers are aware of survey method effects such as information overload, then in that case also, consumers will not be willing to make rational decisions during concept testing. This is a potential threat to concept testing.

Some of the consumers may not know and understand their preferences accurately for a new product/services concept and thus they are not able to articulate them on a survey. Thus, in this case, knowing the outcomes of concept testing or consumer preferences becomes really tough.

Respondents to a survey, if not properly incentivised, will not provide accurate information about their preferences. This reason may not be a potential threat in order to know the customer preferences before a product/service concept is introduced in the market. We know that not all the consumers in the market would be bothered by financial incentives. We can always formulate our surveys in a way that we can detect the fraud. Same questions can be put down in different ways in order to know the quality of the respondent answer. Thus, this may not be a threat to concept testing in order to know the customer preferences.

Thus, Option C or 3rd option is the correct answer.

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