from concept paper terms (online)

Question 1

section is where you present and analyze the outcomes of any preliminary research, experiments, or studies relevant to your concept. This section is crucial as it provides evidence supporting the feasibility and potential impact of your proposed idea.

Answer 1

RESULTS AND DISCUSSIONS

Question 2

Clearly and concisely present the data or findings from any preliminary research or pilot studies. This can include statistical data, survey results, experimental outcomes, or any other relevant data.

Use tables, charts, graphs, or other visual aids to help illustrate your findings. These should be well-organized and easy to understand.

Answer 2

Results

Question 3

Analyze and interpret the significance of your findings. Discuss how they support or challenge your concept.

Answer 3

Discussions

Question 4

are supplementary sections at the end of the document that provide additional information to support the content presented in the main sections.

• include materials that are too detailed or extensive to be included in the main body of the paper without disrupting its flow

Answer 4

Appendices

Question 5

Research method used to evaluate the viability and potential success of a new idea, product, or service before it is fully developed and launched. It involves gathering feedback from target audiences to understand their perceptions, preferences, and likelihood of adoption

Answer 5

Concept Testing

Question 6

_________________ is information provided by customers about their experiences with a product, service, or company. This feedback can be positive or negative and is crucial for businesses to understand customer satisfaction, identify areas for improvement, and enhance the overall customer experience.

Answer 6

Customer feedback

Question 7

A ________ is any item or service created and offered to meet the needs or desires of consumers. ___________ can be physical goods, digital goods, or services, and they are designed to provide value to customers in various ways. The concept of a _________ encompasses a broad range of offerings, including tangible items, software, experiences, and more.

Answer 7

product

Question 8

Refers to the amount of money a customer must pay to acquire a product or service. It is one of the key elements of the marketing mix, often referred to as the 4 Ps: Product, Price, Place, and Promotion. Pricing strategy is crucial because it affects both the perception of value by the customer and the profitability of the company.

Answer 8

Price

Question 9

refers to the distribution channels and locations through which a product or service is made available to customers.

Answer 9

Place

Question 10

refers to the various methods and techniques used to communicate with and persuade potential customers to purchase a product or service.

Answer 10

Promotion

Question 11

practice of identifying business needs and determining solutions to business problems. These solutions often involve a combination of process improvement, organizational change, and strategic planning.

crucial for understanding the current state of an organization, identifying opportunities for growth or improvement, and guiding decision-making processes to achieve business objectives.

Answer 11

Business analysis

Question 12

refer to the initial expenses incurred by a business during the process of establishing itself. These costs are necessary to set up the operations of a new business and can vary widely depending on the nature and scale of the business. Understanding and accurately estimating startup costs is crucial for creating a viable business plan and securing funding.

Answer 12

start up cost

Question 13

typically refers to the total amount of money or resources needed to start and sustain a business venture. It encompasses all the costs required to launch the business and support its operations until it becomes self-sustaining or profitable. Here are the key components that contribute to the total investment:

Answer 13

total investment

Question 14

refer to the estimation or forecast of future sales revenue that a business expects to generate over a specific period. It is a critical component of financial planning and business strategy, helping to predict income, set targets, allocate resources, and assess the feasibility of business plans.

Answer 14

Sales projections

Question 15

is a financial metric used to evaluate the time it takes for an investment to generate enough cash flow to recover its initial cost. In simpler terms, it measures how long it will take for an investment to “pay back” or recoup the initial investment outlay.

Answer 15

payback period

Question 16

is a strategic approach used by businesses to launch a new product or service on a limited scale in specific markets or geographic areas. The primary objective of test marketing is to gather insights and assess the potential success of the product or service before a full-scale launch.

Answer 16

Test Marketing

Question 17

is a research method used to evaluate the viability and potential success of a new product, service, or idea. It involves presenting the concept to a target audience to gather feedback and assess its appeal, feasibility, and market potential.

Answer 17

Concept testing

Question 18

Developing new product concepts involves generating and refining ideas for products or services that meet specific market needs or solve identified problems.

Answer 18

new product concepts

Question 19

involves creating a comprehensive plan to reach specific marketing objectives. It encompasses analyzing market conditions, defining target audiences, determining positioning, and outlining strategies for product promotion, pricing, distribution, and customer engagement.

Answer 19

Marketing strategy development

Question 20

in business encompass various facets related to managing and analyzing finances effectively.

Answer 20

Financial Aspects

Question 21

in business refer to the day-to-day activities and processes that are essential for running a company efficiently and achieving its strategic objectives. These aspects encompass various operational functions and considerations that ensure the smooth functioning of the business.

Answer 21

Operational Aspects

Question 22

defines how activities within a company are coordinated, controlled, and allocated among its employees. It establishes roles, responsibilities, reporting relationships, and communication channels to facilitate efficient operation and achievement of business goals.

Answer 22

Organizational structure

Question 23

is a strategic planning tool used to identify and evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or business venture. It is a structured approach to assessing the internal and external factors that can influence the success or failure of an organization or initiative.

Answer 23

Swot analysis

Question 24

Plans for the conduct of test marketing. Determine where, when and how will execute the operations.

Answer 24

Test Marketing

Question 25

is a strategy used by businesses to introduce a new product or service to a limited market segment before a full-scale launch. It allows companies to gather valuable feedback and insights from real customers, evaluate market demand, fine-tune marketing strategies, and identify potential issues before committing to a broader rollout.

Answer 25

Test Marketing

Question 26

Involves crafting clear, concise, and relevant questions that gather meaningful data from respondents.

Answer 26

Survey Questionnaire